In a decisive move designed to fuel growth and enhance business performance, Lamudi, a prominent online real estate classifieds platform, has announced job cuts in its Indonesian operations. The company did not disclose the number of employees impacted by this strategic decision.
Mart Polman, CEO of Lamudi Indonesia, noted in a statement that the choice to restructure was “a difficult yet necessary one,” underlining its criticality in ensuring the company’s long-term stability.
Despite the circumstances, Lamudi has assured its impacted employees of a fair severance package in line with Indonesian regulations, and has committed to aiding them in securing new employment opportunities.
Lamudi, founded in 2014 by Rocket Internet, now functions in Indonesia, the Philippines, and Mexico. After demonstrating substantial growth over the past two years, boasting an 88% surge in revenue, the company was taken over by the Dubai-based Dubizzle Group (formerly EMPG) in 2020.
The proptech company further expanded in late 2022 with the acquisition of the property business of OLX Indonesia, a classified ads platform. This move skyrocketed Lamudi’s workforce from 200 to 900 employees within the fourth quarter of that year.
The current restructuring is expected to maintain this rapid pace of growth, according to company sources.
This news article is based on a report from techinasia.com.