The resulting overlap of resources requires a reorganisation to further build a successful and strong network of online marketplaces. Following the conclusion of the consultation process launched on 24 May 2022, CEO Gilles Despas today informed employees that such a reorganisation is unavoidable at SMG. From a total number of 638 employees, 70 will be affected by job cuts.
Zurich, 13. June 2022 – The merger of Scout24 Switzerland and TX Markets to form SMG Swiss Marketplace Group AG (SMG) in mid-November 2021 has led to an overlap of resources and competencies. On 24 May 2022, CEO Gilles Despas informed SMG employees about a possible restructuring. As a result, a two-week consultation process was opened up for employees. After the end of this consultation process Gilles Despas informed employees at a company-wide event today that, for the further development of the company, a reduction in the workforce is necessary. This affects 70 employees in seven companies at five locations. SMG is voluntarily offering a comprehensive social plan to all employees leaving the company. The plan aims to treat the reorganisation in a socially responsible manner and show the employees affected appreciation for their contribution to the success of the most popular online marketplaces in Switzerland. The merging of certain activities that follow most mergers will not negatively impact SMG’s customers. The company is confident that the measures taken will position the SMG brands more strongly and in a more targeted manner and that their products and services can be optimised even more efficiently. On the one hand, a strong Swiss marketplace operator offers its customers advantages. At the same time, SMG can face the challenges of worldwide competitive pressure. The goal of SMG remains unchanged: building a successful and strong network of online marketplaces that makes life easier for the Swiss population with forward-looking products.
Daniel de Carvalho, Group Director Corporate Communications SMG Swiss Marketplace Group [email protected]
About SMG Swiss Marketplace Group AG
SMG Swiss Marketplace Group AG is a pioneering network of online marketplaces and a leading European digital company that simplifies people’s lives with breakthrough products. SMG Swiss Marketplace Group AG offers its customers digital solutions to make some of their most important life decisions. Its portfolio includes Real Estate (immoscout24.ch, homegate.ch, ImmoStreet.ch, home.ch, Acheter-Louer.ch), Automotive (autoscout24.ch, motoscout24.ch, Car For You), General Marketplaces (anibis.ch, tutti.ch, Ricardo.ch) and Finance and Insurance (financescout24.ch). The competence network also includes the real estate valuation specialists IAZI AG and the developer of innovative real estate software CASASOFT. The company is owned by TX Group AG (31%), Ringier AG (29.5%), Mobiliar (29.5%) and General Atlantic (10%).