Axing at Ola starts; 200 employees to be affected

NEW DELHI: Ride-hailing major Ola has started to lay off 200 employees from its Ola Cabs, Ola Electric and Ola Financial Services verticals as part of the “restructuring” exercise.

The layoffs, which were first announced in September last year, happened across the teams.

The company said it is “centralising operations and is undertaking a restructuring exercise to minimise redundancy and build a strong lateral structure that strengthens relevant roles and functions”.

The layoffs constitute 10 per cent of its 2,000-strong engineer workforce “as part of a larger restructuring exercise towards its electric dream”.

“Currently, the company has around 2,000 engineers and aims to increase its engineering talent pool to 5,000 over the next 18 months,” as per the ride-hailing company.

The Bhavish Aggarwal-run company has nearly 1,100 employees in its core ride-hailing business.

The ride-hailing major last year shut down its used vehicle business Ola Cars, as well as its quick-commerce business, Ola Dash, as the company shifted focus on its electric two-wheeler and car verticals.