In an attempt to cut costs and streamline operations, the SoftBank-backed Ola Cabs might be looking at laying off around 700 employees of Ola Cars and Ola Dash, sources told CNBC-TV18.
According to reports, team heads have been asked to prepare a list of people for the layoffs.
The cab aggregator currently has nearly 1,100 employees in its core ride-hailing business and directly competes with Uber, as per reports. Last month, Ola shut down Ola Cars, its used vehicle business, as well as Ola Dash, its quick-commerce business.
Also Read |
So far, Ola has shut down Ola Cafe, food panda, Ola Foods, and now Ola Dash.
This comes after Ola's Head of Talent Acquisition Shikharr Sood resigned about 2-3 weeks earlier, they added. More than 32 senior executives of Ola have resigned in the last two years.
Ola is yet to respond to CNBC TV18's query on Sood's resignation.
Lately, the ride-hailing platform has been focusing on its electric two-wheeler and car verticals and has reportedly stated that it delayed its IPO plans, and has further reported that it shopped its global investment plans to further expand overseas.
First Published: Jul 8, 2022 7:29 AM IST
