Job cuts: Ola axes 200 employees, Bhavish Agrawal's company loses over 1000 workers in 7 months

Ola dismissed 200 staffers from its technical and product division in a new round of layoffs. The cab service provider laid off roughly 1100 people in 2022. The company has highlighted layoffs as a possible outcome of the restructure. Workers at Ola Cabs, Ola Electric, and Ola Financial Services will be affected by the layoffs. 

According to IANS, the company is "centralising operations and is undertaking a restructuring exercise to minimise redundancy and build a strong lateral structure that strengthens relevant roles and functions".

In a larger restructuring exercise towards its electric dream, it laid off 10 percent of its 2,000-strong engineer workforce.

"Currently, the company has around 2,000 engineers and aims to increase its engineering talent pool to 5,000 over the next 18 months," according to Ola. In its core ride-hailing business, Bhavish Aggarwal's company employs nearly 1,100 people.

Earlier, restructuring exercises affected nearly 500 employees across product, marketing, sales, supply, technology, business, and operations verticals at the company. The restructuring exercises "were a result of restructuring in the cars and dash businesses".

To concentrate on its core businesses of providing rides in electric two-wheelers and cars, the ride-hailing giant Ola shut down its used vehicle firm Ola Cars and its quick-commerce operation Ola Dash last year.

Ola has said that it intends to increase its headcount to 5,000 in order to double focus on new engineering verticals and boost skills in the vehicle, cell, battery, manufacturing, and autonomous streams.

Also, READ: EPFO update: Know how to link Aadhaar with UAN, a step-by-step guide

Several ed-tech firms in the country shut down, while others, like Byjus and Unacademy, lay off large numbers of employees. Unfortunately for the business owners, Ola has already begun cutting staff, so 2023 won't provide much respite.

Ola, one of the two most popular taxi aggregators in India, is getting ready to join the electric vehicle (EV) cab service industry. Ola's electric vehicle (EV) taxi service in India is reportedly nearing completion of its deployment. Reports suggest that Ola has staffed its exclusive fleet with just the best drivers available.

(With inputs from IANS)