groupon inc shares are on pace for a new alltime low following quarterly results below expectations the company said it will continue to reduce costs in response to weaker demand the localdeals site said it would focus on key areas as part of its ongoing transformation groupon said it would improve its inventory and reduce its marketing expenses in 2023 it also said it would reduce its current cost structure by an additional 100 million twice the size of its original plan as part of its multiphase restructuring groupon said it expects to realize the majority of its savings related to its cost actions by the end of 2023 we believe that successful execution in these areas will allow us to return the company to growth and allow us to deliver positive adjusted earnings before interest taxes depreciation and amortization even on a reduced revenue base said chief executive kedar deshpande in its fourthquarter earnings groupon also provided its first quarter preliminary results through february the company said north america local billings are down 9 from a year earlier international local billings are down 1 on a foreign currency neutral basis from the yearago period and consolidated local billings are down 7 on foreign currency neutral basis from the prioryear period groupon reported fourthquarter results for the period ended dec 31 showing it swung to a loss and revenue declined from a year earlier shares declined 187 to 399 in intraday trading friday putting it on pace for a new alltime low based on available dating going back to nov 4 2011