E-commerce marketplace Groupon has closed down its operations in Morocco as well as in six other countries. The company also fired over 1,000 of its employees in the process.
The move will help the company focus better on its resources and streamline its international operations. The company in a blog post, claims it was spending a lot of money in bringing its technology, tools, and marketplace to every one of the countries it operates.
“Let’s be clear: these are tough actions to take, especially when we believe we’re stronger than ever. We’re doing all we can to make these transitions as easy as possible, but it’s not easy to lose some great members of the Groupon family,” says a message on Groupon’s blog.
The company also extended the shutdown to Panama, The Philippines, Taiwan, Thailand and Uruguay. Recall that Groupon had earlier exited Greece and Turkey in what it termed “broad restructuring actions.”
However, the company’s current restructuring will not any way interfere or affect the company’s mission, which is to connect local commerce and deliver great deals to customers and real value to merchants.
With headquarters in Chicago, Groupon is a leading global e-commerce marketplace connecting millions of subscribers in more than 45 countries. Founded in 2008, Groupon’s services include goods, travel and services.