A roundup of today’s big stories in hyperlocal media, technology, advertising and startups.

Gilt Groupe Cuts Include 10 Percent of Employees and Two Executives (AllThingsD)
The cuts last week focused on Gilt City, the company’s daily deals site that, despite its high-end focus, was competing head to head with others, such as Groupon, LivingSocial and the many other clones in the market. Nathan Richardson, who ran Gilt City, will be leaving after a transition period.

Foursquare’s an API Billionaire: ‘Thousands per Second’ (Programmable Web)
Adam DuVander: Every day Foursquare users create millions of check-ins using the location-sharing platform. Those may be only a small fraction of the traffic seen by its API, which we’ve estimated receives at least 5 billion requests per month. “We get thousands of API requests per second,” a Foursquare spokesperson said.

Local Online News to get TMZ Slant in L.A. (NetNewsCheck)
Ping L.A. will take a 180-degree turn away from the conventions of most local newscasts in everything from the set to the way stories are delivered, all with a view to capturing the elusive 18-24-year-old demographic.

For Restaurant Deals, Fisher Interactive Orders App From Pirq (TechFlash)
The subsidiary of Seattle-based broadcaster Fisher Communications has landed a partnership deal with Pirq to use the startup’s restaurant deals app on its shopping site. Under the deal, Fisher Interactive becomes the exclusive media partner for Pirq, providing a strategic marketing campaign tapping into Fisher’s TV, radio, internet and mobile properties in the Seattle market.

LuxeYard Puts a Social Spin on High-end Flash Sales (GigaOm)
Rather than populating its site with objects selected by a group of buyers operating autonomously based on their own taste, LuxeYard is taking cues from its users on what items to sell. LuxeYard members can post photos of the type of items they’d like to buy on social media platforms, and other members can vote up on products they would also like to buy. Essentially, the items for sale on site will be crowdsourced according to users’ wants.

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