Olx Group, owned by Prosus' internet group Naspers, to lay off 1,500 employees (15% of global workforce) due to slowing demand for its services.
According to its website, Prosus-owned corporation has over 10,000 employees worldwide including offices in India, Bulgaria, South Africa, Poland, and Ukraine.
A company spokesperson stated that OLX would be cutting staff in all countries, business units, and job functions.
However, the number of employees which will be impacted by the layoffs in India is unknown.