Update: The CEO sent an email (below) confirming the layoffs Thursday morning. A source tells Valleywag that LivingSocial just announced 20 percent layoffs at the company. The "online marketplace" for local deals raised $934.7 million in venture capital. Earlier this year the company invested heavily in recruiting for its Los Angeles office, but the source says that office will be closed. I reached out to LivingSocial to confirm the layoffs and will update when I hear back.
Satya Nadella took over as Microsoft's CEO just under six months ago and he's already poised to give thousands of employees a pink slip "as soon as this week." Bloomberg reports that the restructuring "may end up being the biggest in Microsoft history," and could surpass the 5,800 employees laid off in 2009.
Fab will announce its fourth round of layoffs in 10 months tomorrow. The ecommerce company expects to cut 80 to 90 jobs, all from its headquarters in New York. A spokesperson confirmed the decision after Buzzfeed broke the news of an email from the human resources instructing employees not to come in tomorrow.
Fortune's Dan Primack reports that Clinkle, the stealth mobile startup company that raised $25 million in venture capital without really explaining what it does, has "issued pink slips to 16 of its 60-person staff, or just over 25%." The layoffs have not been in engineering, but rather the business side of operations.