- No comment from company on layoff of 500 employees
- Over 1,000 employees affected
- More than half a dozen senior officers left the company
Ola: Our Electric Two Wheelers due to a drop in sales of Ola The company is reportedly laying off around 500 employees. 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.
No comment on retrenchment of 500 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 mentioned that the company currently has around 2,000 engineers and aims to increase its engineering talent pool to 5,000 in the next 18 months. With these efforts the company is centralizing operations.
Over 1,000 employees affected
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 less than 500 employees that were “a result of restructuring 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 started focusing on its electric two-wheeler and car vertical. was. 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.
More than half a dozen senior officers left the company
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 .