Layoffs: The process of layoffs continues from new-age tech companies all over the world. Now the name of OLX has also been added to this list, which has fired about 8,00 of its employees. OLX is a popular company providing a platform to buy and sell used items.
Olx Layoffs: The process of layoffs continues from new-age tech companies all over the world. Now the name of OLX has also been added to this list, which has fired about 8,00 of its employees. OLX is a popular company providing a platform to buy and sell used items. The company had announced to reduce the number of its employees at the global level to reduce costs, due to which this layoff has taken place. According to a report in TechCrunch, the company recently announced the closure of its automotive business unit, Olx Autos, in several countries, and most of the layoffs are from this department.
This Netherlands headquartered company has business in about 30 countries of the world. The company has informed its employees about the layoffs. According to the report of TechCruch, the layoffs are not limited to any particular country or department.
Meanwhile, OLX said in a statement: “Through this process, it became clear that the best option was to focus on selling in that country, given the potential that exists in the local markets. This includes the financing business in Chile and Includes both Olx classifieds platform and auto transaction business in India, Indonesia and Turkey.”
However, the company could not find potential buyers or investors in other countries. Due to this, he had to close his auto service in Argentina, Mexico and Colombia. OLX Auto will continue to sell vehicles in these markets, but no new transactions will be accepted.
According to Prosus’s annual report as of March 31, its classifieds business, mainly Olx, had a total of 11,375 employees. Earlier in January, Olx had also laid off 1,500 of its employees from across the world. In this way, in the year 2023, Olx has announced retrenchment for the second time.
