Ride hailing and electric vehicle manufacturing company, Ola, has laid off around 200 people across teams, Business Today has learnt.
An employee who was laid off from the company last week told Business Today, “About 200 people have been terminated this week. I was in the tech team, I’m looking for other opportunities now.”
Sources claim that the layoffs have been across Ola Cabs, the ride hailing business, and Ola Electric, the electric vehicle manufacturing company.
Business Today has reached out to the company for confirmation on the same, the copy will be updated with their response.
It is worth noting that the company had been mulling downsizing its workforce by 200 people since last September. The company said that 200 engineering roles would be eliminated to reduce redundancy across its two main businesses.
The companies electric vehicle manufacturing arm, Ola Electric, 25,000 electric scooters in India in December 2022. The company’s CEO, Bhavish Aggarwal tweeted that this brings their market share to 30 per cent.
He tweeted, “A December to Remember! We sold 25000 scooters & grew our market share to 30%. India’s EV revolution has truly taken off! 2023 will be even bigger. Onwards and upwards.”