How to delete a location:
From the web app go to 'Locations', choose the location you would like to delete, click 'Edit Locations'; scroll to the bottom and click 'Delete, click 'Ok' when the window pops up asking you to confirm the deletion.
Other helpful articles:
How To: Edit A Location in Zenput (Admin) (Video)
How do I edit or delete users to teams in Hierarchy? (Admins)