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Articles tagged with: costs

Groupon Files For $750 Million IPO
According to Business Insider, Groupon has filed an S-1 with the SEC (Securities and Exchange Commission) in efforts to raise $750 million in an Initial Public Offering (IPO), backed by Morgan Stanley. Some of details of the filling
  • Groupon lost $413 million in 2010
  • 2010 revenues totaled $713 million
  • Groupon’s first quarter 2011 revenues reached $645 million
  • Groupon has 83 million email subscribers
  • Groupon sold 30 million coupons last year
  • Groupon spent $86 million on operating costs in 2010
  • Groupon has 7,000+ employees
Nokia Cuts 7,000 Jobs Due To Bad Quarter

Nokia has been through a lot of waves recently, and today the world knows the outcome. Nokia has announced today it will cut 7,000 jobs as a “result of its Microsoft Windows Phone agreement” and outsourcing Symbian handset software. This represents 12% of the company’s handset employees and will likely save Nokia $1.5 billion dollars.

Nokia’s CEO, Stephen Elop noted that the competitive environment has changed rapidly, implying that Nokia must change with it in order to be successful. The cuts include 4,000 layoffs and 3,000 job shifts to Accenture.