Ola lays off 200 employees from tech and product teams: Report

Ola has laid off around 200 employees from its tech and product teams as part of a restructuring exercise, Inc42 has reported.

The layoff started early this week across the verticals of Ola Cabs, Ola Electric, and Ola Financial Services, said the report.

"We regularly conduct restructuring exercises to improve efficiencies, and there are roles which are now redundant. We will continue making new hires in engineering and design including senior talent in our key priority areas," said Ola, in a statement.

Last year, Ola had revoked its plan to terminate 200 engineering roles. The latest layoff exercise is exactly the same as the one that was supposed to take place last year, said the report, quoting a source.

Earlier this week, it was reported that Ola was shutting its recently acquired Avail Finance app and integrating it with OlaMoney. 

In recent times, the company has announced a series of expansion plans.

In a tweet on Thursday, Bhavish Aggarwal, Founder and CEO of Ola, said, "We had 100 experience centers at end of Dec 2022. Opening 100 more by 26th Jan across India."

Earlier this month, Ola had announced that it would launch a fleet of 10,000 electric cabs in the coming weeks.

The new "premium" fleet, currently in pilot, will be operated by top-rated drivers and provide 100% ride assurance post allocation of the cab, zero cancellations, and 100% cashless payments, said the announcement.