Join our Waitlist for Expert Advice!

Ola Fires 200 People Across Teams: Report Sources claimed that layoffs have been across Ola Cabs, the ride hailing business and Ola Electric, the electric vehicle manufacturing company

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

OLA Twitter handle

Indian multinational ridesharing and electric vehicle manufacturing company, Ola, has reportedly laid off 200 people across the teams. According to a BT report, sources claimed that layoffs have been across Ola Cabs, the ride hailing business and Ola Electric, the electric vehicle manufacturing company.

An employee who was laid off from the company last week told BT that, "About 200 people have been terminated this week. I was in the tech team, I'm looking for other opportunities now."

While approaching for a confirmation on the same, a spokesperson of the company told BT that, ""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."

In November of 2019, as per available reports, OLA had stated that it would reach out to the public for an IPO by 2022, but the sudden rise of the COVID-19 pandemic has apparently pushed their plans a bit. In May 2020, OLA had been reported to lay off at least 1400 employees to reduce its losses, in the hope to get back to full speed once the pandemic is over.

OLA first started as a cab booking-via-telephone service, but then quickly drifted towards a more profitable and easily manageable all-in-one app for its customers.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
Starting a Business

I Quit My Corporate Job to Start a Business. Here's How I Went From Having $35,000 Credit Card Debt to Making $4 Million.

Courtney Allen, founder and CEO of presentation design agency 16x9, "recklessly" left corporate life behind in 2015 to pursue entrepreneurship.

Business News

Google's CEO Says AI Is Now Responsible for 25% of 'All New Code' Created at the Company

Google CEO Sundar Pichai said engineers are moving faster because of AI.

Business News

A Billionaire Founder Admits He Had 'Horrible Habits' — Then He Started a Morning Routine That 'Transformed' His Life

Kind Snacks founder Daniel Lubetzky used to go to sleep at 2 a.m. and skip his morning workout.

Leadership

Why Great Leaders Embrace Broad Thinking — and How It Transforms Organizations

What leaders think they know can cause narrowed thinking, limiting the ability to solve complex problems.

Business News

Read the Memo Dropbox's CEO Wrote to Staff Announcing Layoffs, Cutting 20% of Workforce

Dropbox CEO Drew Houston announced the company was laying off more than 500 employees in a blog post on Wednesday.