Troubled property agency PropertyLimBrothers (PLB) says the “majority” of local staff from its media arm PLB Media were affected in a recent restructuring exercise, confirming a City & Country report from April 14.
In response to media queries, however, a PLB spokesperson says the report “does not reflect the scope of the restructuring exercise”.
City & Country reported that PLB Media employed close to 100 staff as at February, and about 90% of staff were affected in a recent retrenchment exercise. These employees provided research, marketing and social media support for the agency’s realtors.
In an April 15 email, a PLB spokesperson says the figure is not accurate. However, the spokesperson side-stepped further questions about how many staff were affected.
Instead, the spokesperson reiterated in a subsequent email that the 90% figure is inaccurate, while adding that the company “will not be providing detailed headcount breakdowns at this point in time”.
“The restructuring affected a majority of the local media team as part of a deliberate transition towards a leaner, technology-enabled operating model,” says the spokesperson. “A core team remains in place to support ongoing content strategy, creative direction and production oversight.”
See also: PropertyLimBrothers’ media arm lays off 90% of staff as realtors exit
Responding to City & Country, the spokesperson says “these roles are designed to support a more streamlined workflow, with increased use of AI tools and externalised production resources where appropriate”.
City & Country understands affected employees were informed via meetings with human resource (HR) executives, which began last week.
One affected employee was told to either voluntarily resign or be retrenched, and was given two days to decide. This employee tells City & Country that the retrenchment package offered a week’s salary for each year they had worked at PLB.
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Another affected employee says staff who resigned were also offered the retrenchment package. In addition, they will be allowed to keep their company-provided devices and will receive a recommendation letter for their job search.
PLB declined to confirm specifics of the retrenchment package. The spokesperson says affected employees “were provided with a structured transition package”. “In addition, we have extended support in the form of work devices and transitional assistance to facilitate their next steps.”
PLB had 79 registered agents at Feb 5. City & Country understands realtors have left PLB for other agencies in recent months. City & Country reported that PLB's 50:50 realtor commission sharing scheme is higher compared to other agencies, and PLB likely faced a drop in revenue as a result.
In response, the spokesperson says PLB’s realtor team “continues to operate actively”. “Our core real estate business remains fully operational with no disruption to ongoing listings or transactions.”
The transition “allows for a more focused and data-driven approach to marketing execution”, adds the spokesperson. “Overall, this restructuring is part of a broader shift in how we operate our media and back-end functions. It reflects a forward-looking transition towards a more efficient and scalable model.”
In late-January, rumours circulated online that PLB co-founder Melvin Lim and then-vice-president of strategy Grayce Tan were involved in an extramarital affair. Both Lim and Tan are married. After both resigned from the company, PLB’s top executives are now co-founder Adrian Lim and interim CEO Marc Chan.
See also:
PropertyLimBrothers’ media arm lays off 90% of staff as realtors exit
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