Post-Merger Reorganization Leads to Job Cuts at Swiss Marketplace Group

June 17, 2022

The Swiss Marketplace Group has announced that it will be cutting 70 of its 638 employees. The cuts come on the back of what the company called an "overlap of resources and competencies" following the company's amalgamation last year.

According to a company statement, the cuts affect employees at seven different companies at five different locations. SMG will be voluntarily offering a comprehensive social plan to all employees leaving.

The Swiss Marketplace Group was formed when two giants of Swiss classifieds (Ringier and TX Group) came together with the oldest insurance provider in the country and the investment firm General Atlantic in September 2021.

According to a recent interview with Ringier board member Robin Lingg at the Global Online Marketplaces Summit, discussions around a merger in the country between Ringier and TX Group had been going on for seven years beforehand.

The group operates real estate verticals including Scout24.ch, homegate.ch, Immostreet.ch, Acheter-louer.ch and home.ch. SMG also has market-leading positions in the automotive and general classifieds sectors as well.

June 17, 2022
Since March 2020 Edmund's job has been to read about, write about, collect data on, analyse and generally know about real estate marketplaces and the companies that run them. Before that he worked at the aggregator Mitula Group (which became Lifull Connect) for five years.

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

Hemnet Building With Logo Editado
​Hemnet Delivers Strong Q1 Results Amidst Product Innovation and Market Momentum​

Sweden's leading property portal, Hemnet, has reported impressive financial results for the first quarter of 2025, showcasing the robust growth...

Read More
Product Update 2025Apr25 1
Product and Services Roundup: Loopnet, Finn.no, REA Group, Rightmove, Housing.com, AtHome.jp

This week's Product Roundup is flush with some of the biggest names in global real estate. We'll start in Europe,...

Read More
Offerpad Opendoor Stock 2
American iBuyers Opendoor and Offerpad Both Face Delisting From Stock Exchange

U.S.-based iBuying firm Offerpad has received a notice from the New York Stock Exchange regarding non-compliance with continued listing standards....

Read More
Untitled Design 9 3
Zillow Begins Rolling Back its Two-Tab Search Experience

Zillow has begun rolling out a major update to its search experience, moving away from a rule it once implemented...

Read More

Editor's Pick