Report: Ola lays off around 200 employees as part of ‘restructuring exercises’
Ola layoffs
Ride-hailing giant Ola is reportedly laying off around 200 staff in another round, this time from its various software verticals of ANI technologies, which operates at Ola Cabs, as sales of its electric two-wheeler decrease.
As part of a bigger reorganisation effort towards its electric ambition, over 200 employees from Ola Electric's software verticals have been asked to leave, leaving its 2,000-strong engineer team with less than 10% of the total.
Multiple employees who were let off as part of the "restructuring exercise" worked on the Ola app, according to a Monday report by CNBC. Nearly 1,100 people worked for the company owned by Bhavish Aggarwal's primary ride-hailing division.
The company denied sacking 500 employees, adding that 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,” said the company.
“The company currently has around 2,000 engineers and aims to increase its engineering talent pool to 5,000 over the next 18 months,” the company mentioned.
More than 1,000 employees at the company were impacted by earlier restructuring initiatives that affected workers in the product, marketing, sales, supply, tech, business, and operations verticals.
However, sources claim that those layoffs only affected 500 workers rather than 1,000, and that they "were a result of restructuring in the Cars and Dash divisions."
(With inputs from agencies)