News Summary: LivingSocial cuts 400 jobs worldwide
DONE DEAL: Online deals company LivingSocial is cutting 400 jobs, or about 9 percent of its workforce, as the deals market continues to face challenges.
DEEPEST CUTS: The company's sales force faced the most cuts. Others are in customer service and editorial, the people who write up the deals. LivingSocial said it is moving its customer service operations to Tucson, Ariz., from Washington, where it has its headquarters.
TOUGH SELLS: Over the past year or so, online deals have gone from fad to a much-copied business model that's easy to set up but difficult to sustain.
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