The weirdest thing about the on-again, off-again layoffs at LivingSocial is that the daily deal company appears to be scaling nicely. Its revenues are growing and its losses are declining, according to regulatory filings.
The layoffs of 30 staff came in its local events arm, Adventures. They followed 400 job losses last year.
It all sounds rather grim.
- Revenues: $250 million
- Operating loss: -$419 million
- Revenues: $536 million
- Operating loss -$326 million
- Q1 2013
- Revenues: $135 million
- Operating loss: $44 million
The loss in Q1 2013 was much smaller than the $91 million loss it booked the year before. (LivingSocial’s numbers are disclosed by Amazon, which owns a piece of the company.)
So this is probably a blip coming from a small piece of the company that won’t affect its overall direction.
Disclosure: Jeff Bezos is an investor in Business Insider through his personal investment company Bezos Expeditions.
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