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Ola LayOff: Ride-sharing company Ola has announced the layoff of around 200 employees from its tech and product teams. According to Moneycontrol, the company said the cuts are part of its restructuring. The report revealed that the cutbacks are under increasing pressure on technology companies worldwide.

Employees of Ola Cab, Ola Electric and Ola Financial Services verticals have been asked to quit their jobs.
After the cutbacks started earlier this week, the company offered the package as per the notice period. In FY21, the company’s revenue fell 65 percent to Rs 689.61 crore, according to regulatory filings.

Ola’s response

According to the information given by the spokesperson of Ola, ‘We are regularly studying restructuring to improve the efficiency of the company.’ We are looking for senior talent in key priority areas. Continue to innovate in engineering and design. A few months ago, Ola canceled plans to lay off 200 employees.

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Many companies around the world have stopped working

Retrenchment season is underway in companies around the world. A few days ago, Amazon announced 18,000 job cuts. Investment giant Goldman Sachs has started massive cuts across the globe. The company says that the profit of the company is continuously decreasing. The company’s cuts will affect 3,200 employees. This reduction is the biggest cut by banks this year.
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