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LivingSocial Cuts 400 Staff Positions in Cost-Saving Move

LivingSocial Inc., the second-biggest provider of online daily deals, is cutting about 400 of its 4,500 employees, while it plans to increase spending in the areas of marketing and mobile.

The cuts, which affected mostly sales and customer-service positions in the U.S., were announced today, said Andrew Weinstein, a spokesman for the Washington-based company. The moves were the result of a recent operational review in which management also approved 100 new hires and increased spending in certain areas of the business to target growth.