Ola is laying off 500 employees from its software vertical. Ola is laying off 500 employees from its software vertical: Report

 Ola is laying off 500 employees from its software vertical.  Ola is laying off 500 employees from its software vertical: Report

Digital Desk, New Delhi. Ola is reportedly laying off around 500 employees due to the fall in sales of its electric two-wheelers. This time the layoffs are taking place from ANI Technologies’ own various software verticals which operates in Ola Cabs. The company’s core ride-hailing business, run by Bhavish Agarwal, has about 1,100 employees.

While Ola has not commented on the layoff of 500 employees from its software vertical, it said in a statement that Ola Electric is focusing on non-software engineering domains, including vehicle, cell, engineering and R&D. There is a clear focus on capacity building.

The company currently has around 2,000 engineers and aims to increase its engineering talent pool to 5,000 in the next 18 months, the company noted. With these efforts the company is centralizing operations. The first restructuring exercise affected employees in the product, marketing, sales, supply, technology, business and operations verticals across the company, affecting more than 1,000 employees.

However, according to sources, those layoffs affected not 1,000 but fewer than 500 employees that were the result of restructurings in the Car and Dash businesses. The ride-hailing major recently spun off its old vehicle business Ola Cars as well as its quick-commerce business, Ola Dash, as the company focused on its electric two-wheeler and car vertical.

Recently, Ashok Saraswat, Head of Advanced Battery Engineering, Ola Electric, also left the company. Saraswat, who joined SoftBank-backed Ola last year, is reportedly joining a company that is entering the battery business. Over half a dozen senior executives have quit Ola Electric in recent months, while over 30 senior executives have left Ola in the past two years.

Ola Electric’s sales are down and it sold 3,421 EV two-wheelers in August, down from 3,862 units sold by the company in July, indicating that it still needs to get its overall strategy back on track .

Source: IANS

Disclaimer: This is a news published directly from IANS News Feed. With this, the team of bhaskarhindi.com has not done any editing of any kind. In such a situation, any responsibility regarding the related news will be of the news agency itself.

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