Swiss Marketplace Group to Cut Circa 80 Jobs, and up to 40 by the End of April

April 1, 2024

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.

Swiss Marketplace Grpup (SMG) Assets

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.

April 1, 2024
Harvey is an experienced property journalist and copywriter. He has written about the property industry since 2015, starting at The Property Franchise Group in the UK, before moving to Spain to work for Spotahome. He has blogged for the private rented sector, ghostwritten for UK property experts and written case studies for franchise owners around the UK. Harvey joined Online Marketplaces as a News Editor in 2022.

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

Offerpad Opendoor Stock
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 1
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
Zillow Financial 2
Zillow Exec Clarifies and Defends New Listing Access Standards Policy

Zillow's Chief Industry Development Officer, Errol Samuelson, has taken to LinkedIn to clarify the company's updated listings access standards policy....

Read More
Investment Roundup 18Apr 3
Investment and Funding Roundup: Realiste, Rentify, Placy

This week's funding roundup is all about AI-powered platforms. We'll start in UAE...   Asia: Realiste closes $2M seed round...

Read More

Editor's Pick