LocalOye, a platform to hire expert service professionals, today announced that as part of a restructuring it is laying off 60 employees, mainly from its call servicing unit.
This is a result of the startup’s growing focus on automating the entire process of hiring service professionals. The full and final settlements to the relieved employees have already been completed.
“In 2014, we started as an early leader in the local services space, and today we are present in 90+ categories across 3 cities. LocalOye has always been the pioneer when it came to providing trusted, assured and reliable service partners to our customers. Over the past few months, we have been hard at work in prioritizing efforts on better monetization and technology adoption from service partners, and this restructuring is another step in that direction. Our partner additions include revenue management tools, online payments, lead tracking etc.” said Aditya Rao, Founder & CEO – LocalOye.
LocalOye works on a performance oriented model with its service partners, where each service request accepted by a partner is charged and deducted from a prepaid wallet (currently averaging at Rs. 8000/- per partner). Out of the 90+ categories that LocalOye offers, it has 2x margins on more than 75% of the service requests.