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Ola lays off employees in ‘restructuring exercise’
Bengaluru-based cab aggregator Ola Cabs has laid off employees from some of its verticals as part of a “restructuring exercise". The company did not disclose the number of employees affected following the move. “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. A report by news platform Inc42 said around 200 employess may have been handed pink slips as part of the exercise. Those sacked are from the parent firm, Ola Cabs, and from its subsidiaries Ola Financial Services Pvt Ltd and Ola Electric, the report said. “It is a business restructuring and rationalization (exercise). There will be new hires in focus teams," the spokesperson said, adding that the firm may ramp up hiring in several verticals including engineering and design. Source - MINT
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