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Zoopla has informed employees of staff cuts this morning.
It has entered a consultation process with employees across a number of teams with the proposals potentially impacting approximately 30 roles across the business.
This equates to fewer than 4% of employees.
A Zoopla spokesperson said: “We are committed to delivering on our vision of providing an exceptional Zoopla experience that drives commercial success for our customers. With the current economic climate and property market conditions likely to continue for some time, we need to adapt and remain agile in the way we operate. This means continuously challenging ourselves to operate more efficiently and effectively.
“These proposals have not been made lightly and are subject to a thorough review and consultation process. We are supporting our colleagues through this difficult process. Any changes that we may make will not impact our ability to provide excellent service to consumers and our customers.”
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This isn’t really news.
ZPG is one of 78 companies owned by Silver Lake. Any UK company owned/controlled by a USA fund shouldn’t be surprised when staff are first to suffer. The overlords in California will be insulated from the human effects of this. Best wishes to all affected.
Hideous/thoughtless decision to make everyone in the company fear for their jobs. Typical US corporation behaviour though. It will just worsen already-bad morale for everyone even if they’re unaffected. Most of all, this is the loudest alarm bell yet for what the analysts at Silver Lake must be expecting from the market in the coming months. So far Zoopla is a dud investment for Silver Lake.
I was invited to their offices not long after the takeover and the atmosphere felt like a mortuary. No vision. Mr Chesterman left his team high and dry after agents shot themselves in the foot coming off Zoopla and choosing RM when OTM launched with their foolish one other portal rule.
All the people I’ve come into contact with at Zoopla are great. The same can’t be said for their shareholders.
What a bizarre rant
All companies look to reduce costs
It’s a living breathing business. It breathes in, it breathes out.
With the consolidation within the software part of ZPG there will undoubtedly be some blood on the carpet.
Obviously sad for those directly affected but one door closes, inevitably another opens.
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