Layoff News: This is not the first time Olx is laying off employees. In 2020, Olx India had sacked 250 employees as it shifted focus to a few verticals.
Layoff News: In a fresh round of layoffs, Olx Group has reportedly sacked 15 per cent of its global workforce as a part of a restructuring move. People familiar with the matter said that the layoffs come as the demand for its offerings started to slow down. The largest online classified ads company is expected to sack at least 1,500 employees. As of now, the classifieds unit of Naspers-owned internet group Prosus has over 10,000 employees across five continents.
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Confirming the downsizing, a company spokesperson said that the Netherlands-headquartered firm is slashing its global workforce by 15% which impacts staff across all countries, business units and job functions.
“OLX is taking necessary measures to reduce its cost structure in light of changing macroeconomic conditions. Regrettably, this means we are reducing the size of our workforce across the company. We are sorry to part ways with these valuable contributors, but doing so is necessary to meet our future ambitions. Ensuring that our employees are treated fairly and with dignity and respect is at the forefront of our attention at this time,” Financial Express quoted the spokesperson as saying.
This is not the first time Olx is laying off employees. In 2020, Olx India had sacked 250 employees as it shifted focus to a few verticals.
