Steve Grzanich has the business news of the day with the Wintrust Business Minute.

We’re learning more about the layoffs at Chicago-based Groupon. The company says most of the nearly 500 jobs cuts will be in technology, North American sales, and merchandise business in Australia. The layoffs represent about 15% of the company’s staff, in a move to cut $150 million in annual costs.

Also, more downtown Chicago companies are trying to shed office space. Listen for more below: