Layoffs and Restructuring at Gilt Groupe as New Verticals Fail to Deliver Growth [Updated]

UPDATE: Gilt Groupe has not returned returned requests for clarification or comment, but responded via AllThingsD this morning.

CEO Kevin Ryan told the blog: “We are not closing down any businesses. We are not closing down Gilt Taste, and we aren’t merging Gilt City and Jetsetter.” Mr. Ryan also said, “In its fifth month of business, Park & Bond did more revenue than any other business in its fifth month,” although he did not say by what metric. He added that President John Auerbach is still employed at the company for now. But, he noted, there was a chance some of its top 15 executives may leave. (Chief Marketing Officer David Zucker left the company in July and Chief Product Officer Stefan Pepe left the company in June.)

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Layoffs and Restructuring at Gilt Groupe as New Verticals Fail to Deliver Growth [Updated]