55tuan.com has become the latest Chinese group-buying website to carry out staff layoffs and office closures as the once red-hot industry begins to cool, tech website Penn Olson reported.

Over the past few weeks, 55tuan has shuttered 35 offices across the country and laid-off workers in 10 major cities – Nanjing, Jinan, Qingdao, Chengdu, Harbin, Dalian, Shenzhen, Tianjin, Wuhan, and Chongqing.

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