Ola lays off 200 employees under restructure exercise
- ByStartupStory | January 13, 2023
Ola has laid off around 200 employees from its tech and product teams as part of a restructuring exercise, the latest round of layoffs by startups as technology companies face pressure around the world.
According to the report, the employees laid off are from the Ola Cabs, Ola Electric, and Ola Financial Services verticals.
Following the layoffs earlier this week, the company reportedly offered severance packages in accordance with the notice periods.
“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 told Inc42.
The development comes months after Ola rescinded its plans to terminate 200 engineering roles.
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