Olx Group, the online marketplace and classifieds business arm of Prosus, has cut around 800 jobs globally. Today’s move comes as the company started to close operations of its automotive business unit Olx Autos in some markets after long exploring potential buyers and investors, TechCrunch learned and as confirmed by the company.
The Amsterdam-headquartered company, which is operating in over 30 countries around the world, recently started informing the affected employees about the layoffs. They are not limited to a particular market or division, people familiar with the matter told TechCrunch.
An Olx spokesperson confirmed the job cuts to TechCrunch and said it resulted from the decision to exit Olx Autos that was announced in March.
“Earlier this year, we made the strategic decision to exit the Olx Autos business and potential buyers or investors have been explored since then,” the company said in a statement …
