Flash purchase site Gilt Groupe layoffs closed 10% regional offices

Beijing on January 24th news, according to foreign media reports, after previously denied the rumors will be massive layoffs, the flash sales site Gilt Groupe CEO Kevin · (Kevin Ryan); Ryan today confirmed that the site has cut 80 to 90 employees, accounting for the site staff 10%. At the same time, Gilt Groupe also announced a reduction of two executives, they are business executives John · Orr Madge (John Auerbach) and · (Nate Richardson NAT; Richardson). In addition, Gilt Groupe also announced that it will close its 6 regional offices in Seattle, Dallas, Atlanta, Santiago, Houston and Philadelphia.

May 2010, Gilt Groupe successful financing $138 million. For these layoffs, Ryan firmly believes that these measures will help to make the company gain a positive cash flow, and ultimately help companies to achieve profitability, which is the initial public offering (IPO) to prepare. Gilt Groupe is expected by the end of 2012 or 2013 IPO.

Ryan

also said that Gilt Groupe is currently able to maintain operations, and last year the company has also set up some new business, not only provide the initial flash purchase sales. But in fact, the United States has recently been a number of flash site layoffs, for example, was eventually acquired by the acquisition of the Gilt BuyWithMe Groupe site on the hundreds of employees cut. In addition, Gilt Groupe’s rival Rue La La also cut its approximately 65 employees in the Boston area. In addition, Lot18 also laid off.

Gilt Groupe is an e-commerce site in the United States, as long as the members of the site will be able to receive e-mail from the site, e-mail will tell you every day what specials. GiltGroupe’s specials are luxury and brand names, some of which are as high as seventy percent off.

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