Online marketplace OLX to slash over 1,500 jobs globally, including India

Joining the mass layoff season, online marketplace OLX Group is slashing 15 per cent of its workforce, or more than 1,500 employees, globally including in India as part of restructuring amid the global meltdown and recession fears.

According to a report in VCCircle, citing sources, it was not clear how many Indian workers will be impacted in OLX layoffs.

The company’s auto business is likely to be the worst hit, possibly impacting engineering and operations teams in India.

A company spokesperson said “OLX is taking necessary measures to reduce its cost structure in light of changing macroeconomic conditions”.

“We are reducing the size of our workforce across the company. Doing so is necessary to meet future ambitions,” the spokesperson added.