OLX Layoffs: The sound of recession is affecting different sectors. In the last few times, many big and small companies of the world have retrenched employees. In this series, now the online marketplace OLX Group has announced to reduce the workforce globally and the company has laid off a large number of employees. The group has laid off around 800 employees worldwide. Let us tell you that OLX Group has business in 30 countries including India and its headquarters is in Amsterdam.
According to a report in TechCrunch, after searching for potential buyers and investors, the company has started winding down operations of its automotive unit, OLX Auto, in the market. A source associated with the matter said that the retrenchment is not limited to the market or division. Further pruning can be done.
A company spokesperson confirmed the layoffs. In a mail sent to TechCrunch, the company said that earlier this year, it made a strategic decision to exit the OLX auto business and has since been searching for potential buyers or investors.
According to the report , 15 percent of the employees were laid off in January
, and the group has recently started informing the affected employees about the layoffs. In January, the company had confirmed layoffs of 15 per cent or more than 1,500 employees globally, including in India, as part of workforce re-structuring amid fears of a recession.
