Ola lays off 200 employees across businesses in restructuring exercise: Reports
Bengaluru/IBNS: Soft Bank-backed ride-hailing and EV manufacturing company Ola has laid off around 200 employees, media reported.
According to media reports, the company has trimmed its workforce across Ola Cabs, the ride-hailing business, and Ola Electric, the electric vehicle manufacturing company.
Business Today quoted a company spokesperson as saying that the fresh dismissals are part of the company’s regular restructuring exercises done to improve efficiencies, adding that some roles are now redundant.
He told the news publication that the company will hire talents in engineering and design including senior talent in its key priority areas.
It is worth noting that Ola had been mulling a reduction in staff size by 200 people since September 2022.
This move is in line with Ola’s previous year’s plan.
While Ola has shut down verticals such as Ola Play, Ola Cars, and Ola Dash, it is looking at diversifying into a range of new businesses.
The company is working on manufacturing lithium-ion cells, lightweight commercial vehicles, and motorbikes, Ola Founder Bhavish Aggarwal had told Business Standard in December 2022, adding that many of these products could be announced in the next 12 months.
Further, Ola is moving into the premium EV cab service segment with a fleet of 10,000 cars to be operated by top-rated drivers.
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