Ola plans to cut about 200 tech jobs

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Ola has also postponed plans to go public in the first half of this year.

BENGALURU:

Ola will cut about 200 tech jobs to reduce redundancy in its two main businesses, ride-hailing and electric vehicle manufacturing, the SoftBank Group-backed company said on Monday.

The company said it aims to be a “vertical integrated mobility company” and centralizes operations to build a structure to strengthen relevant roles and functions.

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“Ola builds on common capabilities and synergies between functions as it strengthens its play on two-wheelers, four-wheelers, cell research and manufacturing,” the company said in a statement.

To achieve that, Ola said, it plans to expand its engineering workforce to 5,000 over the next 18 months, from about 2,000 currently, as part of an “influx of hires” for positions in vehicle engineering, sourcing, product management and data science.

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Ola, which promoted Uber Technologies to capture a majority share of the ride-hailing market, began manufacturing e-scooters last year and plans to start producing electric cars by 2024.

However, the scooter business came under scrutiny earlier this year when Ola recalled more than 1,400 of the vehicles after one of them caught fire.

The company also postponed plans to go public in the first half of this year, possibly due to market volatility and the lackluster listings of other domestic start-ups.

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