The D.C.-based daily deals company LivingSocial said today that personal information for 50 million if its customers around the world was recently exposed by hackers.
A company that tracks privately held firms reports that LivingSocial was “days away from bankruptcy” before securing $110 million in financing. The company disagrees.
Coming off a turbulent 2012 in which it lost $650 million and laid off more than 10 percent of its D.C.-based workforce, the daily deals company LivingSocial received a bit of good financial news.
The 160 people who no longer work at LivingSocial’s D.C. offices first heard about the layoffs from reading the news, says one person who was laid off by the daily deals company today.
The D.C.-based daily deals company LivingSocial is cutting its worldwide payroll by roughly 400 jobs, including about 160 who work in its six offices spread across Washington.
A LivingSocial spokesman denied a report that the D.C.-based daily deals company is preparing to cut 400 of its U.S. employees, some of whom will come from the 1,000 staffers it has in its home city.
The D.C.-based daily deals company lost a lot of money in the third quarter of 2012, but the company’s CEO isn’t worried.
Councilmember Jack Evans (D-Ward 2), who oversees the District’s tax code, called Mayor Vince Gray’s proposal to rewrite some high-tech incentives as a way of keeping daily-deals company LivingSocial based in Washington a “good start.”
Mayor Vince Gray is proposing a revamp of the District’s tax incentives for technology companies that would save LivingSocial $32.5 million between 2015 and 2020 in an effort to keep the comapny based in D.C.
