Lamudi office / Photo credit: Lamudi
Lamudi, an online real estate classifieds platform, has laid off staff in Indonesia to “maximize growth and improve business efficiency.”
It did not specify the details of how many employees were affected by the decision.
In a statement, Lamudi Indonesia CEO Mart Polman said that the decision for restructuring was “not an easy one” but is important for the long-term sustainability of the company.
Lamudi said that the affected employees will receive severance pay according to the regulations in Indonesia and will also be assisted in finding new job opportunities.
The proptech firm claimed to have had significant growth in the past two years, with an 88% increase in revenue. The restructuring is expected to sustain this momentum, the company added.
Lamudi was founded in 2014 by Rocket Internet and currently operates in Indonesia, the Philippines, and Mexico. The company was acquired by Dubai-based Dubizzle Group (previously known as EMPG) in 2020.
Two years later, Lamudi bought the property business of OLX Indonesia, which operates a classified ads platform. This acquisition increased Lamudi’s workforce from 200 to 900 employees in the fourth quarter of 2022.
See also: Mortgage fintech: Indonesia’s next big consumer lending space
Editing by Jaclyn Tiu
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