This is turning out to be a season of some serious workforce reduction measures by Ola. Barely 2 weeks after its previous mass lay-off, the company has now let go off close to 250 employees, citing restructuring and ‘natural churn in the current industry scenario’ as reasons for the same.
This current set of lay-offs comes close to 2 weeks after the company shut down TaxiForSure, and laid of nearly 300 employees. It isn’t sure as to why the current 250 were let go, but reports have mentioned sources saying that the current layoff percentage is identical to previous years’.
In a statement received from Ola, the company has said,
An annual attrition of 3-4% is a natural churn that is witnessed in the current industry scenario. This includes performance-driven exits, contract roles as well as a few surfacing from constant business realignment. These have been well-thought-through organizational decisions, keeping in mind the best interests of employees and business efficiencies.
On a contrary note, Ola has actually ramped up hiring by taking in close to 6000 personnel in a period of last 12 months.
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Founder of the The Tech Portal. Now a consulting editor for the platform. Deepanshu has advised and worked with numerous early/mid-stage startups in diversified roles so far. You can click on his LinkedIn profile and drop in a message to get in touch.
