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Tech Layoff: Prosus latest to cut 30% corporate staff

The firm, one of Europe’s largest e-commerce companies by asset value, will make cuts at its corporate centers, including hubs in Hong Kong, Amsterdam and South Africa, Chief Executive Officer Bob van Dijk said in an interview Wednesday.

January 26, 2023 / 09:39 AM IST
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Amsterdam-listed Prosus NV and its parent Naspers Ltd. are planning to cut their corporate workforce by 30%, becoming the latest global tech company to announce layoffs.

The firm, one of Europe’s largest e-commerce companies by asset value, will make cuts at its corporate centers, including hubs in Hong Kong, Amsterdam and South Africa, Chief Executive Officer Bob van Dijk said in an interview Wednesday. The job cuts are taking place over a 12 month-period and about 15 locations will be affected, he said.

“The reality is that the macro environment has become more difficult and has changed a lot,” Van Dijk said. “This also means that the cost of capital has changed a lot, as interest rates go up and risk premiums also go up.”

Van Dijk declined to say how many people would lose their jobs. Prosus employed 30,000 people globally at the end of March last year, according to an earnings report, but these roles are spread across corporate hubs and a range of businesses the e-commerce group invests in and operates, including in classified advertising, food delivery and internet payments.