Groupon to Cut Nearly a Quarter of Workforce in Restructuring

Groupon GRPN 0.69%increase; up pointing triangle will lay off nearly a quarter of its employees, cutting up to 400 positions globally in a restructuring the company said will advance its previously disclosed strategy to rebuild as an AI-native company.

The online marketplace company said Tuesday it expects to record between $7 million and $13 million in pretax charges tied to the restructuring, the majority of which it anticipates will stem from employee severance and compensation benefits.