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Ola plans to slash jobs ahead of IPO

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  • The development comes as Ola, run by ANI Technologies, reduced its losses by 57% to Rs 1,160 crore during FY19 from Rs 2,676 crore in FY18

Source | timesofindia.indiatimes.com | John Sarkar | Digbijay Mishra

NEW DELHI: Ride-hailing major Ola is planning to cut its workforce by 15-20% over the next two quarters in a bid to improve margins and move towards profitability, sources said. Ola is estimated to have 5,800-6,000 people on its payroll, including group companies — Ola Electric Mobility and Ola Financial Services, where about 8-10% of the employees could be redeployed besides laying off over 350-400 people.

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