PropertyGuru cuts 174 jobs, shuts down three business units

This represents 12% of its workforce.

PropertyGuru has announced the layoff of 174 employees, representing nearly 12% of its workforce, as it discontinues three business units to refocus on its core real estate marketplaces.

The company is shutting down Sendhelper, Data & Software Solutions, and PropertyGuru Finance in addition to phasing out its Corporate Development and Investor Relations teams.

In an internal memo to staff, PropertyGuru said the decision was made to streamline operations and focus on its marketplaces in Singapore, Malaysia, Vietnam, and Thailand. The affected employees were informed of the cuts in one-on-one meetings with senior management and People & Culture representatives.

“These decisions were not made lightly. They reflect our commitment to building a more focused, agile, and effective organisation. With Lewis joining us as CEO in March, I’m confident we will be well-positioned to seize all opportunities,” Trevor Mather, Executive Chairman of the Board at PropertyGuru Group wrote in the memo

The company said the employees impacted by the layoffs would receive a severance package, including one month’s salary per year of service, capped at 12 months, along with an additional one-month goodwill payment. PropertyGuru will also provide three months of extended medical insurance and access to career consultants, with affected staff allowed to retain their work laptops to support their job search.