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(Sharecast News) - Shares in US daily deals platform Groupon jumped on Tuesday as investors reacted to plans to cut up to 400 roles worldwide and an upgrade to full-year forecasts.
The company said the workforce reductions, which equate to nearly a quarter of all of its staff, would generate annualised payroll savings of between $20m and $25m.
The plan is part of a restructuring effort to transform the company in the era of artificial intelligence.
Taking into account expected pre-tax restructuring charges of about $7m to $13m, primarily related to severance and employee compensation costs, the full-year 2026 adjusted EBITDA guidance was raised to between $75m and $80m, up from prior guidance of $70m to $75m.
Groupon said it expects the initiative to deliver gross savings of $10m to $12m during the 2026 financial year, roughly half of which would be reinvested into marketing, AI infrastructure and talent.
The company also disclosed that chief operating officer Jiri Ponrt would step down effective 10 July.
Shares in Groupon rose 3.4% to $19.57 by 1619 BST, a level it has not closed above since last November.
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