Olx Group lays off 800 employees worldwide, shuts down some markets
Olx Group, the online marketplace and classifieds business arm of Prosus, has laid off about 800 employees globally, and closed the operations of its automotive unit in some markets. Olx Group, the online marketplace and classifieds business arm of Prosus, has announced the reduction of approximately 800 jobs worldwide. The company has begun closing operations of its automotive unit, Olx Autos, in certain markets after exploring potential buyers and investors, a Tech Crunch report cited The layoffs are not limited to a specific market or division and affected employees are being informed about the decision, sources close to the development informed. An Olx spokesperson confirmed the job cuts, attributing them to the company's previous announcement in March regarding its exit from Olx Autos. Olx Group operates in over 30 countries globally and is headquartered in Amsterdam. “Earlier this year, we made the strategic decision to exit the Olx Autos business and potential buye...