Layoff continues in 2023; IPO- bound Ola fires 200 employees

Ola layoffs: Cab aggregator platform Ola, which is planning to launch its IPO this year has laid off employees, calling it a restructuring exercise.

Though the company did not disclose the number of employees affected but a report by Inc42 said around 200 may have been handed pink slips as part of the exercise.

“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,” an Ola spokesperson said.

The layoffs have impacted employees in various verticals including Ola Cabs, Ola Electric, and Ola Financial Services sectors. This is not the first time Ola has let go of its staff. In 2022, the taxi aggregator let off about 1100 workers.

The Bhavish Aggarwal-run company has nearly 1,100 employees in its core ride-hailing business.