Groupon trims jobs in China

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE

Groupon Inc is to cut some underperforming staff at its Chinese joint venture Gaopeng. It has entered China in February through a tie-up with China's Tencent Holdings Ltd and has faced intense competition from the start. Industry report claimed that Groupon was laying off some staff. Cuts started in April and in June department heads were asked to cut up to 5 percent of employees.

A spokesperson for Gaopeng said talks of layoffs were just a rumor and there was only some "normal personnel adjustment."

Gaopeng, has a small slice of the group-buying market in China, behind more popular sites such as Lashou, Meituan, Wuwutuan.

For More Details See

www.varindia.com