OLX India cuts 250 jobs amid shift in strategy

The company, owned by global consumer internet group Prosus, may also be looking to exit from its real estate and used goods businesses as it aims to prioritize its used car marketplace Cash my Car and its recruitment platform Aasaanjobs, the sources added. According to one of the people cited in the report, OLX has been zoning in on the used vehicle marketplace and recruitment platform since 2019.

However, the company denied that it would be closing the two verticals. “As we continue to evolve to meet the market expectations and the needs of our customers, we’re shifting our strategy and focusing on key segments where we can offer more services and convenience,” a spokesperson for OLX told Tech in Asia.

The 250 employees affected by the shift include those in sales and support teams, the person added. “We are committed to find opportunities for some within OLX and Prosus businesses, and to extend to our impacted colleagues meaningful exit severance compensations and outplacement support to ensure they are well-looked-after post this transition.”

Since 2018, OLX has pulled out of a number of countries. It merged its operations in the Middle East with Emerging Markets Property Group earlier this year and its US business Letgo with OfferUP. Last year, Carousell also landed a deal to take over OLX’s business in the Philippines.