Groupon’s Venture in China Is Said to Fire Employees for Poor Performance – Bloomberg
Groupon Inc.’s China joint venture has fired a large number of workers for poor performance as the company competes for customers in the world’s largest Internet market, a person with knowledge of the matter said.
The Gaopeng.com site is financially viable and still hiring, said the person, who declined to be identified because the moves weren’t announced publicly. The firings weren’t made out of necessity, the person said.
Groupon, which plans an initial public offering, is making “progress” in China after opening Gaopeng.com earlier this year with investment by Tencent Holdings Ltd. 700, Groupon Chief Executive Officer Andrew Mason said in June. Gaopeng, also backed by Yunfeng Capital, a private equity fund begun by Alibaba Group Holding Ltd. Chairman Jack Ma, offered daily deals for goods and services in 30 cities as of June.
“Groupon’s approach to international expansion is to aggressively create a large presence upfront and refine our strategy as we gain deeper insight into the local market,” Julie Mossler, a spokeswoman for Chicago-based Groupon, said in an e-mailed statement. “We view any adjustments to the business as very typical in order to build a long-term foundation for success.”
Strange Random Human Resources Quote:
When people work in a place that cares about them, they contribute a lot more than duty. – Dennis Hayes
- Groupon Venture in China Shuts Some Offices (allthingsd.com)
- Groupons China venture battles crowded market (theglobeandmail.com)
- Groupon JV closes some China offices: WSJ (marketwatch.com)
- Groupon (Gaopeng) Reveals Structure of China Business, 40% Partnership with Tencent (businessinsider.com)
- The booming group buying market – Helen Wang (chinaherald.net)
- Groupon: Still Getting It In The Ass In China (techcrunch.com)
- Groupon Employees In China Stage Protests As Layoffs Roll On (businessinsider.com)
- Groupon Sells Coupon Tracking Plans to Congress (socialtimes.com)
Posted on August 24, 2011, in Article and tagged Alibaba Group, Andrew Mason, Chicago, Chief executive officer, Dennis Hayes, Groupon, Initial public offering, Jack Ma, Tencent Holdings. Bookmark the permalink. Leave a comment.