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Prosus, Naspers cutting 30% of jobs at corporate offices

Prosus, Naspers cutting 30% of jobs at corporate offices
Prosus, Naspers cutting 30% of jobs at corporate offices Copyright Thomson Reuters 2023
Copyright Thomson Reuters 2023
By Reuters
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AMSTERDAM - Prosus NV and its South African parent Naspers are cutting up to 30% of jobs at their corporate offices, the Dutch technology investor said.

The companies are the latest major technology-based firms to make layoffs, after Google parent Alphabet's big cuts announced last week.

"We are adapting to a changing macro environment and have been working for some time to strengthen our cost structures," a Prosus spokesperson said in a statement on Wednesday.

Prosus and Naspers have around 15 corporate offices around the world, with the largest ones in Johannesburg and Amsterdam.

"Today we are announcing a reduction of some roles as we realign our efforts on specific areas and reduce our cost base."

Prosus/Naspers have around 30,000 employees but most are employed at companies in their investment portfolio. There is no figure available for the number employed at corporate offices located around the globe, a spokesperson said.

Prosus owns and operates some of the companies it invests in, including Brazilian meal delivery giant iFood and online classifieds marketplace OLX.

It also owns minority stakes in dozens of companies such as Delivery Hero.

Those companies are making their own decisions on staffing, the spokesperson said, on differing time frames.

There was no schedule for the cuts to the corporate offices.

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