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PropertyGuru Lays Off 174 Employees, Closes 3 Units
The Straits Times
|February 18, 2025
Property technology firm trims operations to focus on its online marketplace business
Property technology firm PropertyGuru on Feb 13 cut 174 jobs and shut three business units as it trims operations to focus on its online marketplace business.
The three units are Sendhelper, data and software solutions and PropertyGuru Finance.
Sendhelper, acquired in October 2022, provided property upkeep services such as cleaning, while PropertyGuru Finance advised on mortgages.
The corporate development and investor relations departments will also be phased out, as these functions are no longer required with PropertyGuru's transition to a private company, said new executive chairman Trevor Mather.
The firm delisted in December 2024 from the New York Stock Exchange after a takeover by private equity firm EQT Private Capital Asia for US$1.1 billion (S$1.47 billion).
However, a spokeswoman for the firm told The Straits Times it managed to redeploy another 34 workers with data and fintech expertise to other roles within the firm.
"Unfortunately, for the remaining affected roles, despite exploring all possible alternatives, these changes were necessary," she said.
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