Jakarta –
Termination storm (layoffs) still haunts a number of companies in 2023. Now, it is the turn of the buying and selling startup, OLX Group, which is reported to have laid off hundreds of employees.
Reported from DealStreetAsia, Saturday (28/01/2023), a source said, the company is taking efficiency steps towards OLX Indonesia. In fact, the company intends to sell its automotive business.
It was said that as many as 30%, or to be exact, 300 of the total 1,000 staff members were affected. It is also reported that OLX Indonesia has changed the policy of buying and selling used cars on its platform.
He will focus more on consumer to business (B2B) and business to business (B2B) models, and slowly leave the business to consumer (B2C) model.
In addition, quoted from CNBCIn 2020, the parent company of the Lamudi.co.id property company, Emerging Markets Property Group (EMPG), announced a merger with the OLX Group.
In the merger, EPMG received US$ 150 million from the OLX Group and other investors so that the company’s valuation exceeded US$ 1 billion. One of the points of the merger is the handover of OLX’s property classification business operations to EPMG in four countries.
As a result of the agreement, OLX Indonesia’s property business was handed over to Lamudi.co.id, a company owned by EPMG in Indonesia. OLX Indonesia itself focuses on the business of selling used cars which they acquired from the startup Belimobilgue, namely OLX Autos.
(fdl/fdl)
