‘Restructuring train’ ends in Ola shedding 200 staff

Whether or not it’s 2022 or 2023, some issues simply don’t appear to vary. And sadly for employers and staff alike, layoffs appear to be a kind of issues. Friday the thirteenth marked one more occasion of staff being laid off at an enterprise – this time, it’s ridesharing main Ola, based on a report by The Financial Instances. The layoffs started earlier this week, and many of the affected staff have been freshers who have been not too long ago employed straight out of faculty.

As a part of its “restructuring train in direction of its electrical dream,” Ola laid off round 200 staff throughout a number of groups within the recent spherical of job cuts. The affected staff hailed from the tech and product groups throughout Ola Cabs, Ola Electrical, and Ola Monetary Companies. In a press release, the corporate mentioned that it carried out restructuring workout routines regularly to “enhance efficiencies,” and has eradicated the redundant roles. Going ahead, Ola will likely be bringing in new blood by driving recruitment in engineering and design, together with the inflow of recent senior expertise in what it claims to be “key precedence areas.”

This additionally comes after Ola introduced its plans to launch a “premium” fleet of 10,000 electrical cabs within the coming weeks. The fleet is presently in pilot.

In line with IANS, the ridesharing big is “centralizing operations and restructuring to attenuate redundancies and strengthen related roles and features.” Impacted staff would not have to go away Ola empty-handed – the corporate is providing them severance packages as per their respective discover intervals. The recent spherical of layoffs shaves off a portion of Ola’s 2,000-strong engineer workforce, however the ride-hailing firm is trying to enhance these numbers within the coming months. In line with a report by Inc42, Ola is trying to additional bolster its engineering expertise pool over the following 18 months and enhance the quantity to 5000.

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This growth doesn’t come as a shock, despite the fact that it marks the newest spherical of sackings by startups. Final September, the ridesharing main had deliberate to scale back its workforce by reducing off 200 staff throughout engineering roles. Nonetheless, it opted to not undergo with the layoffs at the moment, and the latest growth confirmed that Ola had merely delayed the inevitable. This does, nevertheless, convey the full variety of laid-off staff by Ola within the 1000’s – it had laid off 1400 staff in 2020 because it did not bear the brunt of the pandemic and subsequent lockdowns. Later final yr, the corporate laid off an additional 1000 individuals from its cloud kitchens, in addition to its meals and grocery supply companies. And as not too long ago as early this week, studies surfaced that Ola was shutting Avail Finance (which it acquired final yr for about $50 million) app and integrating it with OlaMoney.