Groupon Inc

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6:45:28 PM EDT: $4.00 +0.07 (+1.78%)
Debt Financing / Related, Layoffs, Restructuring / Reorganization

Groupon Inc Approved The Second Phase Of The Company’S Multi-Phase Restructuring Plan

Published: 01/30/2023 22:21 GMT
Groupon Inc (GRPN) - Groupon Inc - on January 25, 2023, the Board of Directors of Groupon, Inc. Approved the Second Phase of the Company’s Multi-phase Restructuring Plan.
Groupon Inc - Second Phase is Expected to Include an Overall Reduction of Approximately 500 Positions Globall.
Groupon Inc - Has Incurred Total Pretax Charges of Approximately $9.6 Million Since Inception of 2022 Restructuring Plan Through December 31, 2022.
Groupon Inc - Majority of Reductions in Second Phase Expected to Occur by the End of the Second Quarter of 2023.
Groupon Inc - Actions Are Expected to Create an Additional $30.0 Million in Annualized Cost Savings.
Groupon - Intends to Implement Other Non-payroll Actions Outlined Within 2022 Cost Savings Plan.
Groupon - Payroll Actions Under Second Phase of 2022 Restructuring Plan Are Estimated to Result in About $70.0 Million in Annualized Cost Savings.
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