SINGAPORE, Feb. 18 -- PropertyGuru has laid off 174 employees, or approximately 12 per cent of its workforce, and shut down three business units.
Headquartered in Singapore, the property technology company - which also has operations in Malaysia, Vietnam and Thailand - made the announcement on February 13, detailing the closure of its home service platform Sendhelper, mortgage broker service PropertyGuru Finance, and its data and software solutions department, according to a report published in Channel News Asia today.
In a statement, executive chairman Trevor Mather explained that these decisions were made after careful consideration of the company's long-term growth and success.
He emphasised the difficulty of the decision, noting that...