Following a preliminary review of the digital pioneer’s resources and new brand portfolio, as expected, some areas of overlap were identified that are currently being looked at as part of a potential reorganisation. At a company-wide meeting today, to keep everyone informed, the CEO, Gilles Despas, introduced the prospect of such a reorganisation to all staff.
Zurich, 24. May 2022 – The merger of the former Scout24 Switzerland and TX Markets to form SMG Swiss Marketplace Group in mid-November 2021 brought together the combined strengths of Switzerland’s leading digital marketplaces.
Following a preliminary review of the digital pioneer’s resources and new brand portfolio, as expected, some areas of overlap were identified that are currently being looked at as part of a potential reorganisation.
At a company-wide meeting today, to keep everyone informed, the CEO, Gilles Despas, introduced the prospect of such a reorganisation to all staff.
Considering the legal requirements on «mass dismissal» that apply to some areas of business, SMG has initiated an employee consultation process. For SMG, treating all employees fairly and equally is very important. To enable an even more inclusive process, employees who are not potentially affected by the reorganisation can also contribute to the consultation.
Furthermore, should the need for any staff layoffs be confirmed after the consultation, although not mandatory, SMG would provide a voluntary social plan for all affected employees. The results of the consultation will be known and communicated by mid-June.
While all mergers tend to lead to some convergences, this will have no negative impact on SMG customers. The company foresees that the combined strengths of all SMG brands will result in being much better equipped for innovation leading to improved products and services. A strong Swiss marketplace company is not only beneficial for SMG’s customers but also means SMG will be well-positioned to meet the challenges presented by tough global competition. SMG group’s objectives remain the same; to create a successful and enhanced network of online marketplaces to simplify people’s lives with forward-looking products in Switzerland.
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%).