Ola lays off 200 employees in 'restructuring exercise'

Ola laid off employees from verticals such as Ola Cabs, Ola Electric, and Ola Financial Services, according to the report.

Ride-sharing company Ola has laid off around 200 employees from its tech and product teams as part of a restructuring exercise, Inc42 reported on January 12, in the latest round of sackings by startups as technology companies coming under pressure across the globe.

The employees who have been let go are from Ola Cabs, Ola Electric and Ola Financial Services verticals, the report said.

Moneycontrol could not independently verify the report.

The company reportedly offered severance packages in accordance with the notice periods after the layoffs began earlier this week.

“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,” an Ola spokesperson told Inc42.

Also read: Ola Electric sells 1.5 lakh EV scooters in 2022, eyes expansion in export markets

The development comes months after Ola rescinded its plans to terminate 200 engineering roles.