India’s largest mobility platform and one of the world’s largest ride-hailing companies, Ola has decided not to lay off its engineers for now.
With the rising inflation post-COVID-19. The companies either have laid off employees or have slowed down the hiring process.
This news has come as a relief for the employees. However, Ola has also admitted that its decision had made employees anxious.
The managers reassured their teammates that they would instead find ways to reskill them so that they could meet Ola’s changing requirements.
Senior officials of the company have come forward and apologized to their respective team members for the anxiety caused due to the sudden layoff plans and said there would be “no cuts”.
The company has also said that the way it was managing the productivity assessment was probably not as effective as the company would want it to be. Ola is finding a better way of managing the process.
Ola’s senior officials told their respective teammates that they were sorry for the “stress and tension” caused due to the news.
Initially, CNBC had reported that the company’s nearly 500 employees are being laid off from the various software verticals of ANI technologies which operate as Ola Cabs.
However, then the company clarified that it will be laying off nearly 200 people. These layoffs were part of the restructuring exercise.
The company stated that 10 percent of the 2,000-strong engineer workforce has been asked to leave the organization. Ola said about 200 jobs from its overall engineering workforce will be cut to minimize redundancy.
Meanwhile, Ola Electric said that currently it has around 2,000 engineers and aims to increase its engineering talent pool to 5,000 over the next 18 months.
“On August 15, the company announced plans to enter the electric car segment with plans to launch its first model by 2024.
In April 2022, Ola Dash scaled down its operations from 9 cities to 3 cities and dismissed over 2,100 contract workers. In 2020, it laid off around 1,400 employees from its food, rides, and financial services verticals due to the COVID pandemic.