SoftBank-backed Ola plans to eliminate about 200 jobs across its engineering teams over the next few days, on track to shrink its workforce by over 1,200 this year, as the ride-hailing giant streamlines its operations to improve finances.
The company has kickstarted a new wave of layoffs, which affects the engineering teams at its food and ride-hailing businesses.
An Ola spokesperson says the layoff impacts fewer than 200 jobs, accounting for 10% of the company’s engineering team.
Ola says that it currently employs about 2,000 individuals and aims to increase the engineering talent pool to 5,000 over the next 18 months.