Joining a list of firms like Blinkit, Unacademy, Vedantu, Cars24 club, Ola may lay off 400-500 employees in a bid to significantly bring down its costs.
According to reports, these layoffs are taking place across departments, amid a challenging funding environment and a delay in listing plans for the Bhavish Aggarwal-led firm.
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Recently, the SoftBank-backed mobility platform, shut its used car business Ola Cars and quick commerce business Ola Dash to focus on its electric vehicle manufacturing business.