Groupon’s board approved a restructuring plan that will reduce up to 400 positions globally, including employees and contractors. The reductions are expected to occur by the end of Groupon’s Q3 2026, with the company’s fiscal Q2 ending June 30 and Q3 running July 1 through September 30. Groupon reported about 1,734 employees in a proxy statement, excluding independent contractors. The number of contractors affected by the up-to-400 cuts is not specified. Groupon described the layoffs as the initial phase of a broader restructuring, with additional changes expected. The company linked the job cuts to its AI-native strategy called Project Foundry, aimed at better delivering its mission for customers.
"Last Thursday, the board of Groupon, Inc. (Nasdaq: GRPN) approved a restructuring plan that will see mass layoffs at the company. This information comes from a Form 8-K filing filed with the U.S. Securities and Exchange Commission (SEC) on May 21. In the filing, Groupon revealed it will reduce "up to 400 positions globally." Those positions include both employees and contractors, and the cuts are expected to happen by the end of Groupon's Q3 2026."
"The company is currently in its fiscal Q2 2026, which ends on June 30. Groupon's fiscal Q3 runs from July 1 to September 30, which means the workforce reductions should occur by October. In a Schedule 14A Proxy Statement filed with the SEC on April 28, Groupon revealed that it had approximately 1,734 employees, which included "full-time, part-time, seasonal and temporary employees." Groupon said that the figure excluded independent contractors."
"It is unknown how many contractors are included in the workforce reductions of up to 400 individuals. If the layoffs were to encompass only the company's employees, they would represent roughly 23% of its employed workforce. Groupon emphasized that this is just the "initial phase" phase of the restructuring and that more changes are expected."
"In its 8-K filing, Groupon said that the layoffs were the first part of the company's strategy to rebuild itself "as an AI-native company," the goal of which is to "better deliver on our mission, serving both customers an"
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