If you have savings in this company as a shareholder, you're going to lose your savings. The only people who will make money at this point are the VCs, who by law can't have their "savings" invested in the company. If you're not a VC holding shares at the company you're going to be wiped out via dilution or multipliers in the event of an exit, and god forbid they raise MORE money, because the terms on that deal are going to be pretty rough.
Even if the company manages to turn itself around, older existing shares will probably be wiped out just due to dilution in retaining its executives and share-backed loans, or, again, if it has to raise more money, terms on new money.
Whether a shareholder will get any returns in Living Social is not what I'm talking about. As a company, their job is to do whatever they legally can to protect (and grow) a shareholder's investment. If hiring Americans goes against that, then they should not hire Americans.
I was just responding to the first part of your post, specifically around a shareholder had their savings invested in the company. Management has a legal responsibility to do what's best for the company, yes, but that often is at odds with an investor who got in before the company turned sour.
Even if the company manages to turn itself around, older existing shares will probably be wiped out just due to dilution in retaining its executives and share-backed loans, or, again, if it has to raise more money, terms on new money.