Report: Chinese daily deals site Lashou will lay off 1/3 of its workforce

Just a couple of months after finally achieving an exit, Chinese group buying site Lashou appears to be in trouble. Lashou has long since fallen behind market leaders Juhuasuan and Meituan, and now Techweb is reporting that the company is planning massive layoffs.

Lashou has not officially confirmed the layoffs, but Techweb reports that it also has not denied them.

According to Techweb’s sources, nearly 200 people have been fired from the site’s local substations, as well as 80 from its headquarters, with additional staff having been pushed into resignations. Some of the company’s local sites will be shuttered entirely. All in all, the cuts apparently add up to around one-third of Lashou’s employees, with virtually every department suffering losses.

Many of the company’s top-level executives have also departed recently.

(Source: Techweb)