The company has asked key managers to make a list of people on their team who can be laid off. There are also reports that Ola has postponed its decision to invest outside the country in foreign markets like UK, Australia, and New Zealand for the time being.
There are reports of layoffs in many companies amid fears of recession around the world.
In India too, the news of layoffs in companies like Byju’s, Unacademy has gone on in the media in the past. There are reports of layoffs in another big domestic company. This company is Ola.
According to reports, taxi service provider Ola is planning to lay off 400 to 500 employees. Ola is facing delays and funding challenges in its IPO plans. In such a situation, the company can take the step of laying off employees in an attempt to reduce its cost.
The fear of layoffs in Ola has also increased because the company had recently closed the company’s quick commerce business Ola Dash.
At the same time, in order to focus on its electric vehicles segment, the company has also decided to close its second hand car business Ola Cars. On behalf of the company, it has been said that the purpose of closing these companies is to accelerate the journey of the company’s electric segment. PLC/GT
