News: OLX to let go 250 people in India

Employee Relations

OLX to let go 250 people in India

The impacted employees are mostly from the sales and support teams.
OLX to let go 250 people in India

Used goods marketplace OLX is letting go of 250 people in India as it shifts its focus away from certain verticals. The development is a part of a larger change in strategy within the organization.

The impacted employees are mostly from the sales and support teams.

An OLX spokesperson told the media, “By refocusing our strategy, we have decided to make a few internal alignments last week that has impacted around 250 of our colleagues in sales and support teams.”

OLX, which entered India in 2009, said it is "deeply invested" in the India market and is committed to evolving and investing locally to continue to provide "the best experience" for its customers. A unit of the Netherlands-headquartered global consumer internet group Prosus, the OLX Group employs over 7,500 people globally, as per the company's website.

In India, the used goods marketplace claims to have 85 percent market share of the consumer-to-consumer online trade, 80 percent of the pre-owned cars market share via OLX Auto & OLX CashMyCar while OLX People has emerged as a leading blue a grey collar jobs recruitment marketplace in India.

The spokesperson added that as the firm continues to evolve to meet the market expectations and the needs of its customers, it is shifting its strategy and focusing on key segments where it can offer more services and convenience. However as the company takes the extraordinarily difficult decision to lay off of 250 people in India, the company’s priority is to ensure this process is handled thoughtfully and respectfully towards them.

Read full story

Topics: Employee Relations, #Layoffs

Did you find this story helpful?



How do you envision AI transforming your work?

Your opinion matters: Tell us how we're doing this quarter!

Selected Score :