Anticipates significant cash outflows in Q1. Says results from local category were disappointing. Says not living up to full potential today. Says decided to accelerate phase 2 of restructuring Says plans to increase size of phase 2 plan by $50M. Says on track to reduce expense structure by $100M in phase 2. Says eliminating 500 positions globally by end of Q2. Comments and guidance taken from Q4 earnings conference call.
Published first on TheFly
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- Groupon expects to reduce current cost structure by an additional $100M
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