Groupon (GRPN) lowered the cut it receives on daily deals to 35% from 40% in Q4, CFO Jason Child...
Wednesday, February 27, 6:36 PM ETGroupon (GRPN) lowered the cut it receives on daily deals to 35% from 40% in Q4, CFO Jason Child discloses. That's one reason (though not the only one) why daily deals revenue fell 14% Y/Y. On the earnings call, COO Kal Raman suggested major international layoffs are on the way - 3/4 of sales personnel currently work in Groupon's international ops. CEO Andrew Mason, likely to face fresh calls for his removal (previous), promises operating margin will improve in 2013 in spite of a shift towards e-commerce sales. Shares -25.8% AH. (live blog) (Q4: I, II)
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