In this case study we look at the approach taken by a cross-practice Travers Smith team to successfully advise Groupon, the NASDAQ listed global Tech business and online marketplace, on the restructure of its International business across 14 jurisdictions.
During 2020 Groupon announced proposed staff restructurings which would ultimately deliver $225 million of savings annually. A Travers Smith team led by Employment Partner Adam Wyman and Senior Counsel Ailie Murray advised Groupon on the international elements of this global project, supported by a team of lawyers from across Travers Smith and our network of leading independent law firms and Groupon's local counsel.
This was a significant global people change project taking place over the course of 2020 and 2021 which exemplifies Travers Smith's market leading expertise in employment projects. We project managed the International project, offering the client a seamless international service. Our deep and broad relationships with leading independent law firms across the globe enabled us to rapidly identify the most suitable local counsel with the necessary expertise and experience to work with us on this project. Regular communication with local counsel and project management from our team was vital; maintaining the client's commercial intent and time pressures remained our priority.
We were able to successfully support our client through this high-value and business-critical project, highlighting our extensive experience in managing large cross-border projects, despite not having a physical presence in every jurisdiction. The flexibility of our international model, and our ability to choose the best firm for our client using our network of firms, together with working with Groupon's existing counsel in some jurisdictions, meant that we were able to provide a bespoke service, project manage the restructure across all jurisdictions as well as provide English law advice in a seamless one-firm approach.
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