OLX lays off 250 people in India
Used goods marketplace OLX is letting go off 250 people in India as it shifts its focus away from certain verticals as part of a larger change in strategy within the organisation. The impacted employees are mostly from the sales and support teams.
"By refocusing our strategy, we have decided to make a few internal alignments last week that have impacted around 250 of our colleagues in sales and support teams," an OLX spokesperson told IANS on Sunday.
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.
In India, OLX claims to have 85 per cent market share of the consumer-to-consumer online trade, 80 per cent 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.
"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 OLX sokesperson said.
"As an example, in addition to online presence, we have added a physical network of car inspection centres that offer peace of mind in the car selling process."
A unit of the Netherlands-headquartered global consumer internet group Prosus, the OLX Group employs over 7,500 people globally, according to it the company's website.
Commenting on the lay off of 250 people in India, the OLX spokesperson said that "these are extraordinarily difficult decisions."
"Our priority is to ensure this process is handled thoughtfully and respectfully towards them," spokesperson said.
"We are committed to find opportunities for some within OLX and Prosus businesses, and to extend to our impacted colleagues meaningful exit severance compensations and outplacement support to ensure they are well-looked-after post this transition."
