MASSIVE job cut: Ola to fire 200 employees

New Delhi: Ola sacked 200 employees from its technical and product division in a new wave of layoffs. In 2022, the taxi aggregator let off about 1100 workers. Layoffs have been mentioned by the business as a part of the restructuring process. The layoffs have an effect on the workers in the Ola Cabs, Ola Electric, and Ola Financial Services sectors. According to the Inc42 article, the corporation started making cuts earlier this week.

Over 1000 employees have left the Bhavish Agrawal-led business in the last seven months. Avail Finance, which Ola just bought, is reportedly being discontinued and integrated into Ola Money. A spokeswoman for Ola confirmed the layoffs, saying, "We periodically do restructuring operations to increase efficiencies, and there are functions which are now unnecessary. (Also Read: 10 BIG companies that did MASSIVE lay offs recently)

We'll keep adding additional engineering and design employees, especially senior expertise in our top priority areas. Ola has offered to pay the affected employees' severance payments in accordance with their notice period. Since last year, Ola has engaged in cost-cutting procedures. (Also Read: 1% of the US population, Indian-Americans pay 6% of taxes: Congressman)

Along with terminating a sizable number of employees, the company also shut down a number of divisions, including the infotainment service Ola Play, the used-cars marketplace Ola Cars, and the quick-commerce division Ola Dash. Due to the shifting social needs, the previous year has been particularly difficult for Indian companies, with ed-tech startups apparently suffering the most.

While several ed-tech businesses closed their doors in the nation, other well-known companies like Byjus and Unacademy drastically reduced their workforce. It turns out that 2023 won't provide the entrepreneurs any relief because Ola has already made layoffs.

One of the two well-known cab aggregators in India, Ola, is now preparing to enter the EV cab service market. It has been made known that Ola is now completing the rollout of its EV cab services in India. According to rumours, Ola has hired top-rated drivers for its unique fleet.