PropertyGuru announces layoff of 79 employees, including Arina East Residences team
Organisational Changes at PropertyGuru
PropertyGuru, a leading property listing company, has recently announced that 79 roles, or 5% of its total workforce, will be made redundant. This decision was made after a careful and objective assessment of the roles needed for the company’s future growth, according to Hari V. Krishnan, PropertyGuru’s CEO and managing director.
The move comes in the midst of a wave of layoffs at other companies such as Lazada, Amazon, Google, and TikTok. On Feb 27, Krishnan shared that the company will be making “structural organisational changes” in order to future-proof the business. “Volatile market conditions and changing customer needs require us to adapt our strategy so that we can continue to grow sustainably,” he explains. “It’s essential that we periodically reassess our progress and take proactive steps to future-proof our business.”
Some of the changes include closing non-scalable and unprofitable businesses, such as two of the company’s nine branches related to their Marketplace business in Vietnam. FastKey, a marketplace feature connecting agents to developers, will also be shut down. Additionally, the company will consolidate technology delivery to drive cost savings and improve collaboration.
The roles in marketing, product, and enterprise sales will also be redesigned to better support customers. Following the tough decision to let go of 79 employees, Krishnan announced that each impacted member will receive a severance package and other benefits.
Impacted employees will receive a severance of one month for each year of service, capped at 12 months or country statutory severance pay, whichever is higher. They will also receive a goodwill payment of one month’s base salary and an eligible performance bonus in 2023. Sales employees will receive their commissions for February and March, if applicable.
Employees will still be eligible for medical insurance for three months after their last date of employment and will receive career transition assistance. They will also be allowed to keep their work laptops. For employees on employment visas, the company will provide three months of extended leave without pay based on local manpower laws and support for their repatriation and early exits from residential tenancy.
In his message to the departing employees, Krishnan expressed his gratitude and wished them luck. “Your contributions have been important to our story, and we value the relationships we built over the years,” he says. “To each departing Guru, the leadership team and I extend our heartfelt gratitude, and we wish you good luck.”
Arina East Residences: A Property by PropertyGuru
PropertyGuru, a leading property listing company, has recently announced organisational changes that will see 79 roles being made redundant. This decision was made with careful consideration of the company’s growth plans, according to CEO and managing director Hari V. Krishnan.
The move comes at a time when companies in various industries are facing challenges and making tough decisions, including layoffs. On Feb 27, Krishnan revealed that PropertyGuru will be making “structural organisational changes” to ensure the business is future-proof. “In order to continue growing sustainably, we need to adapt our strategy to volatile market conditions and changing customer needs,” he explains.
The changes include closing non-scalable and unprofitable businesses, such as two of the company’s nine branches related to their Marketplace business in Vietnam. FastKey, a marketplace feature connecting agents to developers, will also be shut down. Additionally, the company will consolidate technology delivery to drive cost savings and improve collaboration.
Roles in marketing, product, and enterprise sales will also be redesigned to better support customers. In a statement, Krishnan announced that each impacted employee will receive a severance package and other benefits.
Impacted employees will receive a severance of one month for each year of service, capped at 12 months or country statutory severance pay, whichever is higher. They will also receive a goodwill payment of one month’s base salary and an eligible performance bonus in 2023. Sales employees will receive their commissions for February and March, if applicable.
Employees will still be eligible for medical insurance for three months after their last date of employment and will receive career transition assistance. They will also be allowed to keep their work laptops. For employees on employment visas, the company will provide three months of extended leave without pay based on local manpower laws and support for their repatriation and early exits from residential tenancy.
In his message to the departing employees, Krishnan expressed his gratitude and wished them luck. “Your contributions have been important to our story, and we value the relationships we built over the years,” he says. “To each departing Guru, the leadership team and I extend our heartfelt gratitude, and we wish you good luck.”
Property Listing Copyright Belong to Agents: Arina East Residences
The recent organisational changes at PropertyGuru have sparked discussion about the future of the company and its employees. With 79 roles being made redundant, CEO and managing director Hari V. Krishnan assures that the decision was made with careful consideration of the company’s growth plans.
The move comes at a time when many companies are facing challenges, and PropertyGuru is no exception. On Feb 27, Krishnan announced that the company will be making “structural organisational changes” to future-proof the business. “We need to adapt our strategy to volatile market conditions and changing customer needs in order to continue growing sustainably,” he explains.
The changes include closing non-scalable and unprofitable businesses, such as two of the company’s nine branches related to their Marketplace business in Vietnam. FastKey, a marketplace feature connecting agents to developers, will also come to an end. In addition, the company will consolidate technology delivery to drive cost savings and improve collaboration.
Roles in marketing, product, and enterprise sales will also be redesigned to better support customers. In light of the layoffs, Krishnan announced that impacted employees will receive a severance package and other benefits.
Impacted employees will receive a severance of one month for each year of service, capped at 12 months or country statutory severance pay, whichever is higher. They will also receive a goodwill payment of one month’s base salary and an eligible performance bonus in 2023. Sales employees will receive their commissions for February and March, if applicable.
Employees will still be eligible for medical insurance for three months after their last date of employment and will receive career transition assistance. In addition, they will be allowed to keep their work laptops. For employees on employment visas, the company will provide three months of extended leave without pay based on local manpower laws and support for their repatriation and early exits from residential tenancy.
In his message to the departing employees, Krishnan expressed his gratitude and wished them luck. “Your contributions have been important to our story, and we value the relationships we built over the years,” he says. “To each departing Guru, the leadership team and I extend our heartfelt gratitude, and we wish you good luck.”
Arina East Residences: A Property by PropertyGuru
The future of PropertyGuru and its employees has been the topic of conversation following the company’s announcement of organisational changes that will see 79 roles being made redundant. CEO and managing director Hari V. Krishnan assures that the decision was made with careful consideration of the company’s growth plans.
The changes come in the midst of challenges faced by many companies, including lay-offs. On Feb 27, Krishnan shared that PropertyGuru will be making “structural organisational changes” to ensure the business is future-proof. “We need to adapt our strategy to volatile market conditions and changing customer needs in order to continue growing sustainably,” he explains.
With the Kallang Riverside Park and East Coast Park Arina East Residences nearby, residents can also enjoy nature and outdoor activities.
The Kallang Marina Bay Basin is a crucial part of the Master Plan, which aims to develop it into a dynamic sports and entertainment hub. Along with the Singapore Sports Hub, new facilities and venues will be introduced to enhance the overall experience of living in Arina East Residences. With an emphasis on sports and lifestyle amenities, residents will have access to top-notch sporting events, concerts, and recreational activities, creating a lively and engaged community atmosphere. Additionally, Arina East Residences offers proximity to both Kallang Riverside Park and East Coast Park, providing residents with opportunities to enjoy nature and participate in various outdoor activities.
The changes include closing non-scalable and unprofitable businesses, such as two of the company’s nine branches related to their Marketplace business in Vietnam. FastKey, a marketplace feature connecting agents to developers, will also be shut down. Additionally, the company will consolidate technology delivery to drive cost savings and improve collaboration.
Roles in marketing, product, and enterprise sales will be redesigned to better support customers. As a result of the layoffs, Krishnan announced that impacted employees will receive a severance package and other benefits.
Impacted employees will receive a severance of one month for each year of service, capped at 12 months or country statutory severance pay, whichever is higher. Additionally, they will receive a goodwill payment of one month’s base salary and an eligible performance bonus in 2023. Sales employees will receive their commissions for February and March, if applicable.
Employees will still be eligible for medical insurance for three months after their last date of employment and will receive career transition assistance. They will also be allowed to keep their work laptops. For employees on employment visas, the company will provide three months of extended leave without pay based on local manpower laws and support for their repatriation and early exits from residential tenancy.
In his message to the departing employees, Krishnan expressed his gratitude and wished them luck. “Your contributions have been important to our story, and we value the relationships we built over the years,” he says. “To each departing Guru, the leadership team and I extend our heartfelt gratitude, and we wish you good luck.”
Property Listing Copyright Belong to Agents: Arina East Residences
PropertyGuru’s recent organisational changes have sparked discussion about the future of the company and its employees. With 79 roles being made redundant, CEO and managing director Hari V. Krishnan assures that the decision was made with careful consideration of the company’s growth plans.
The changes come at a time when many companies are facing challenges, and PropertyGuru is no exception. On Feb 27, Krishnan announced that the company will be making “structural organisational changes” to future-proof the business. “We need to adapt our strategy to volatile market conditions and changing customer needs in order to continue