Ola layoffs: 200 more engineers fired

20 Sep 2022 , 12:33 PM

According to sources, Ola has dismissed about 200 engineers across its ride-hailing and fintech businesses in a new round of layoffs. These layoffs represent around 10% of the company’s 2,000-person engineering team.

Earlier this year, the firm laid off around 1,000 people in order to focus on its ride-hailing and electric vehicle operations.

Previously, the company envisaged launching a “super app” with a variety of services such as cloud kitchens, used vehicle sales, food and groceries delivery, and its main ride-hailing service.

In order to cut costs further, the company may make further reductions in its engineering workforce in the ride-hailing business.

While Ola did not specify how many people were laid off, it did say it was going through a “restructuring exercise” and that it is planning to increase its engineering headcount to 5,000 in the next 18 months as it doubles down on cell manufacturing, a four-wheeler project, and other EV and ride-hailing efforts.

The company stated that it will improve its technical capabilities throughout the car, cell, battery, manufacturing, and autonomous engineering spectrums.

Ola also continues to witness senior-level executives. Recently, Ashok Saraswat resigned from the company, joining about six other senior executives quitting the company within a period of six months.