Ola Fires 200 People Across Teams: Report Sources claimed that layoffs have been across Ola Cabs, the ride hailing business and Ola Electric, the electric vehicle manufacturing company
By Teena Jose
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Indian multinational ridesharing and electric vehicle manufacturing company, Ola, has reportedly laid off 200 people across the teams. According to a BT report, sources claimed that layoffs have been across Ola Cabs, the ride hailing business and Ola Electric, the electric vehicle manufacturing company.
An employee who was laid off from the company last week told BT that, "About 200 people have been terminated this week. I was in the tech team, I'm looking for other opportunities now."
While approaching for a confirmation on the same, a spokesperson of the company told BT that, ""We regularly conduct restructuring exercises to improve efficiencies, and there are roles which are now redundant. We will continue making new hires in engineering and design including senior talent in our key priority areas."
In November of 2019, as per available reports, OLA had stated that it would reach out to the public for an IPO by 2022, but the sudden rise of the COVID-19 pandemic has apparently pushed their plans a bit. In May 2020, OLA had been reported to lay off at least 1400 employees to reduce its losses, in the hope to get back to full speed once the pandemic is over.
OLA first started as a cab booking-via-telephone service, but then quickly drifted towards a more profitable and easily manageable all-in-one app for its customers.
