Prosus NV, a subsidiary of Africa’s largest e-commerce company by asset value, Naspers, plans to reduce its corporate workforce by 30%, amid a global tech industry downturn.

This comes after Prosus' parent company Naspers posted a shaky H1 2022 financial result in November, citing higher inflation and interest rates, with Prosus also seeing a turbulent 2022.

The job cuts will span a 12-month period and affect about 15 locations where the company has operations including its corporate offices, in Hong Kong, Amsterdam and South Africa.

The actual number of employees that will be affected is unknown, although according to an earnings report, Prosus had 30,000 people in its employ worldwide at the end of March last year, with those roles spread across corporate centres and a range of businesses in which the e-commerce group invests and operates.

The company will also look to cut costs at the more than eighty companies it has invested in, with no given schedule, in a move to help Prosus become profitable by 2025.