Rumors out this morning suggested that Gilt Groupe would be dramatically cutting back on staff members and hinted that Gilt Taste might simply close up shop for good. Sources told BetaBeat that as many as 170 people across various departments would lose their jobs.
Well, it turns out that Gilt Taste will continue to operate, but the company will layoff employees. CEO Kevin Ryan told All Things D that 50 employees across the company would be let go, which he insists is fairly "minimal" for a company of 900 people. He insisted the company is "doing great" and would likely file for an IPO as early as the fourth quarter of 2012.
Ryan says the company does not need as many staff now that the site is up and running. Some of the top 15 executives at the company could leave.
This seems like an odd, but not unprecedented, move for a company doing well. Feels like just yesterday that Gilt Taste launched.
- Revised Groupon IPO Filing Reveals $420 Million Operating Loss in 2010
- 7 Gilt Taste Guilty Pleasures
- 2 Must Read Articles Ahead of Groupon IPO
- Dunkin' Donuts Stock Goes Public on the NASDAQ Stock Market
- Want to Go Skydiving With Anthony Bourdain?
- Modern Day Slavery on Tomato Farms
- Alec Baldwin Calls Out Starbucks Employee on Twitter
- Groupon Continues Shocking Implosion
- Groupon CEO Andrew Mason on 60 Minutes
- Scientists Worried About Doodie in Food Imports