OLX to layoff 15 per cent of its workforce globally, almost 1,500 employees to be impacted
The Dutch online marketplace OLX is cutting off 15 per cent of its global workforce, or around 1,500 workers, and is the latest company to do so in recent days.
“OLX is reducing its global workforce by 15% which affects staff across all countries, business units and job functions. We are taking necessary measures to reduce cost structure in light of changing macroeconomic conditions,” a company spokesperson confirmed to Financial Express.
“Regrettably,” added the spokesperson, “this means we are reducing the size of our workforce. We are sorry to part ways with these valuable contributors. But, doing so is necessary to meet our future ambitions. Ensuring that our employees are treated fairly and with respect, is at the forefront of our attention at this time.”
The exact number of employees impacted by the change in India is unknown. Financial Express claimed that the engineering and operations teams are the worst hit in India, citing sources familiar with the case.
OLX, which started operating internationally in 2006, has more than 20 brands globally. It allows for the purchase and selling of products in a variety of categories, including apparel, electronics, furniture, and automobiles, as per its website.