Highlights

  • Ola shut its user car business Ola Cars and quick commerce business Ola Dash
  • Ola likely to lay off up to 500 employees in cost cutting exercise

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Ola may layoff up to 500 employees amid funding winter

Indian startups have laid off a little over 11,000 people in the last six months. 

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.

Also read/watch| LPG Cylinder Price Hike: Pay Rs 50 more per cylinder from today

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.

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