has confirmed to me tonight that they fired more than 50% of their employee’s today in order to slim down the company and focus on quality and profitability.
We got a tip when a comment was posted on an article on Daily Deal Media suggesting that the company let axed 75% of their workforce.
The number ended up high, but it turns out BuyWithMe has indeed trimmed down significantly today.
The NYC-based company recently raised $21.5 million and has been quickly buying other daily deal sites, with six acquisitions in 2011.
BuyWithMe continues to do very well in their hometown of Boston.
They also have a strong presence in a handful of cities but have overall struggled to scale successfully.
The company has made significant investments into Cardlinked technology which gives the consumer easier methods of redeeming coupons.
Stay tuned to Daily Deal Media for further updates of this developing story.