Naspers, Prosus to slash 30% of jobs

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Amsterdam-listed Prosus NV and its parent Naspers Ltd. are planning to cut their corporate workforce by a massive 30%, becoming the latest global tech company to announce layoffs.

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

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The job cuts will take place over a 12 month-period and about 15 locations will be affected, Van Dijk confirmed.

Naspers shares closed 1.7% lower

The measures should help Prosus become profitable by the first half of 2025, according to Van Dijk.

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“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.”

Naspers shares closed 1.7% lower in Johannesburg on Wednesday, and Prosus declined 0.2% at 17:15 in Amsterdam.

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