Platform for ride-hailing Ola begun the process of laying off approximately 1,000 employees across multiple verticals while also ramping up hiring for its electric vehicles (EVs) business.
According to media reports from earlier this month, Ola may lay off 400-500 people. However, according to an ET report citing company insiders and recruitment agencies, the number will be closer to 1,000. The company is restructuring internally after announcing the closure of its quick commerce and used car businesses, Ola Dash and Ola Cars, late last month. According to reports, 500 employees have lost their jobs as a result of the shutdowns. The unicorn stated at the time that the move is in line with its renewed focus on the EV mobility business.
