The Swiss Marketplace Group (SMG), the operator behind major real estate marketplaces in Germany and Switzerland, is set to cut around 80 jobs as part of a restructuring exercise as the Group seeks to save money to improve growth.
A statement by the Group said, "As part of the restructuring, 39 layoffs could be made in April. These mostly concern group functions in Switzerland."
It is unknown which SMG's assets will be affected.
Christoph Tonini, CEO at SMG, said:
"Together, we have created a very good foundation since the start of the joint venture.
"In view of the highly competitive market dynamics with strong national and international players and the rapid development at the technology level, we recognize the need to align our organization for the future now."
SMG is the operator of several leading marketplace sites in Switzerland including German market leader ImmoScout24, and Homegate and Home.ch in its native Switzerland. The company was formed via the coming together of TX Group, Ringier and insurance specialist die Mobiliar along with General Atlantic in September 2021.
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