OLX India Lays Off 250 Employees, Set To Renew Focus On 2 Verticals
OLX has laid off close to 250 people from its sales and support teams. The Prosus-owned company, however, said it will renew its focus on its omnichannel platform to sell cars Cash my Car, and its recruitment marketplace Aasaanjobs.
OLX’s spokesperson said the company will ensure that the impacted colleagues got meaningful exit severance compensations and outplacement support.
“As we continue to evolve to meet the market expectations and the needs of our customers, we’re shifting our strategy and focusing on key segments where we can offer more services and convenience,” the spokesperson added.
In recent times, OLX has been waging a tough battle with Facebook’s marketplace across multiple geographies. It currently leads the segment in Europe and Russia where it owns Avito.