Home From the Wires LivingSocial to ax hundreds of jobs

LivingSocial to ax hundreds of jobs

| Print |  Email
Thursday, November 29, 2012
Washington Business Journal: LivingSocial, a social commerce company that has raised more than $800 million in funding, entered 2012 with a staff of roughly 5,000. Now it says it will lay off 400 in the U.S.

The layoffs raise a host of questions about the future. First and foremost: LivingSocial in July won an up-to $32.5 million tax break from the D.C. Council on the promise that it would stay based in D.C. The legislation calls on the company not only to maintain and expand its 1,000-employee base in the District, but to move into a new headquarters of at least 200,000 square feet. With a smaller local staff, opening up a larger D.C. office becomes far less practical, raising questions about whether LivingSocial will be able to claim that credit when it takes effect in 2016.

Read more.

 

Comments   

 
Guest
0 #1 RE: LivingSocial to ax hundreds of jobsGuest 2012-11-29 05:57:12
Investors put $813M in @LivingSocial, which is now making mass #layoffs as we speak. LivingSocial may be 1 of biggest #venturecapital backed failures. Ever. (PrivCo: http://bit.ly/V7fblm )
Quote | Report to administrator
 

More Articles

Healthcare Perspective

November/December 2014
Wednesday, October 22, 2014
BY KIM MOORE

A conversation with Majd El-Azma, president and CEO of LifeWise Health Plan of Oregon, followed by the Healthcare Powerlist.


Read more...

Kill the Meeting

November/December 2014
Wednesday, October 22, 2014
BY AMY MILSHTEIN

Meetings get a bad rap. A few local companies make them count.


Read more...

The Diaspora

October 2014
Thursday, September 25, 2014
BY LEE VAN DER VOO

Former newspaper reporters move into brand journalism.


Read more...

The Rail Baron

October 2014
Thursday, September 25, 2014
BY LINDA BAKER

Oil is gushing out of the U.S. and Canada, and much of it is coming from places that don’t have pipeline infrastructure. So it’s being shipped by rail.


Read more...

Two Sides of the Coin

Contributed Blogs
Wednesday, October 22, 2014
22 twosidesBY JASON NORRIS

Historically, when the leaves fall, so do the markets. This year, earnings, Europe, energy and Ebola have in common? Beyond alliteration, they are four factors that the investors are pointing to for this year’s seasonal volatility.


Read more...

Podcast: Testing for Emotional Intelligence with John Hersey

Contributed Blogs
Friday, September 19, 2014
ivbU3sIXBY TOM COX | OB BLOGGER

How can you tell if you, a peer, a subordinate or a job candidate has the emotional intelligence needed to do well?


Read more...

The 100 Best Nonprofits to Work for in Oregon 2014

October 2014
Thursday, September 25, 2014
14BY KIM MOORE

Proud, diverse and underpaid.

Pride in their organizations’ mission, fairness in the treatment of women and ethnic minorities, flexible work schedules — these are just a handful of workplace characteristics that employees of this year’s 100 Best Nonprofits appreciate about their organizations.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS