Ola begins layoffs, pauses appraisals

New Delhi, July 8

Ride-hailing platform Ola has started laying off employees, as many as 500 from its nearly 1,100-strong workforce, across verticals as it aims to cut costs amid a challenging funding environment.

Cost-cutting move

• The ride-hailing platform has started laying off as many as 500 from its nearly 1,100-strong workforce, across verticals as it aims to cut costs.

It has also deferred appraisals as it aims at “leaner and consolidated teams” to keep its “strong profitability intact,” according to sources. The layoffs begin as Shikharr Sood, the head of Ola’s Talent Acquisition, has put in his papers. His resignation comes amid several resignations by top executives. — IANS