OLX India Layoffs

About

OLX India, the Prosus-owned online classifieds platform, has laid off approximately 250 employees from its sales and support teams. This reduction is part of a strategic shift to refocus on two core verticals: its omnichannel used car platform, Cash My Car, and its recruitment marketplace, Aasaanjobs. The decision, announced in early 2021, also involves shutting down its real estate and used goods segments in the country. The company stated the layoffs are not due to the pandemic but rather a global strategic realignment to compete more effectively, particularly against challenges like Facebook Marketplace. OLX had previously doubled its sales team to scale operations but is now streamlining to concentrate on areas where it can offer enhanced services. The affected employees are being provided with severance packages and outplacement support.

Source

More Marketing Layoffs