The company re-evaluates its strategy, closing business units and reorganising to improve focus after acquisition
PropertyGuru, a prominent property technology company, has announced the layoff of 174 employees, representing roughly 12% of its total workforce, as part of a broader restructuring initiative. The company, headquartered in Singapore and with operations in Malaysia, Vietnam, and Thailand, also closed three of its business units, including its home service platform Sendhelper, mortgage broker service PropertyGuru Finance, and its data and software solutions division.
This decision, confirmed by executive chairman Trevor Mather in a statement on February 13, 2025, was made following careful consideration of what is necessary for the company’s long-term success and growth. Mather described the move as “difficult” but essential for streamlining the company’s operations.
PropertyGuru, which was acquired by Asian investment firm EQT Private Capital Asia in December 2024 in a deal valued at approximately US$1.1 billion, is transitioning towards a more focused approach. As part of this shift, its corporate development and investor relations departments will be phased out, while teams across technology, marketing, finance, and human resources will be reorganised to improve efficiency.
Affected employees will receive severance packages that include one month’s salary per year of service, capped at 12 months, or the statutory severance, whichever is higher. In addition, employees will be given a “goodwill payment” of one month’s salary, along with extended medical insurance for three months, or its equivalent in payment, as well as career support and job search assistance. For those with visa, relocation, or financial challenges, the company is offering up to three months of unpaid leave, subject to local laws, and repatriation assistance.
While PropertyGuru is not a unionised company, some affected employees are members of the Singapore Manual & Mercantile Workers’ Union (SMMWU), which is affiliated with the National Trades Union Congress (NTUC). SMMWU will provide career resources and support, including job matching services through NTUC’s Employment and Employability Institute, along with opportunities for career and skills development.
These layoffs come as the company adapts to its new private ownership and continues to adjust its operations to remain competitive in the property tech industry.
