OLX to layoff 15% staff, around 1,500 employees to be impacted

In a statement, a company spokesperson regretted the move, but said it was taken to meet ‘future ambitions.’

Dutch online marketplace OLX is laying off 15% of its global workforce or around 1,500 employees, joining a growing list of organisations that have laid off staff in recent days.

A screengrab of the OLX website shows services offered by the company. (olx.com)

“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.”

For India, the exact number of employees impacted by the move is not known. However, citing people aware of developments, Financial Express noted that the engineering and operations teams are the worst affected in the country. In India, where it arrived in 2009, the Amsterdam-headquartered firm operates OLX and OLX Autos.

OLX, which began global operations in 2006 and has more than 20 brands worldwide, is present across five continents, according to its website. It enables buying and selling goods across categories such as fashion, electronics, furniture, cars etc.