LivingSocial Lays Off 10% Of Workforce

Living Social laid off 400 employees this week– roughly 10% of it’s global workforce. With Groupon’s stock price tanking throughout 2012, it’s fair to wonder if the daily deals party is over.  A quick survey of the Lab’s employees indicates that while people still use the sites, they’re increasingly turned off by sketchy deals and the saturation of offer emails and companies in the space.  From the perspective of big brands, there’s also concerns that slashing prices too deeply will undercut reputation.