Ola has laid off around 200 employees from its tech and product teams as part of a restructuring exercise, with engineering roles being impacted the most, sources told Inc42.
The laid-off employees are from Ola Cabs, Ola Electric, and Ola Financial Services verticals, the sources added. The company has offered severance packages as per their respective notice periods, they said, adding that the layoffs began earlier this week.
Confirming the development, an Ola spokesperson told Inc42 in a statement, “We regularly conduct restructuring exercises to improve efficiencies, and there are roles that are now redundant. We will continue making new hires in engineering and design including senior talent in our key priority areas.” It must be noted that late last year Ola rescinded its plans to terminate 200 engineering roles. However, a source said that the latest layoff exercise is exactly the same as the one which was supposed to take place last year.
