Ola Fires Around 200 Employees Of Its Workforce

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According to media reports, Ola, a Bengaluru-based aggregator platform, has laid off a sizeable portion of its workforce as part of a restructuring exercise. The company, however, did not disclose the number of employees impacted. The company did not disclose the number of employees affected.

The fired employees were part of the parent firm, Ola Cabs, and its subsidiaries, Ola Financial Services and Ola Electric. In September of last year, the startup cancelled its plans to lay off approximately 200 engineers.

Earlier this week, the platform also shut down its neobanking platform, Avail Finance, which it had acquired in March 2022. According to the media reports, The startup that acquired Avail with plans to merge it with its subsidiary Ola Money. Tech startups are reducing their headcount to optimise their costs. With this layoff, With this layoff, Ola joins a slew of technology startups that have laid off employees in the current market downturn. 



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