According to reliable sources, SoftBank-backed Ola has asked senior executives to identify employees on their teams on a performance basis who could be asked to leave.
The company is reportedly looking to “leaner and consolidated teams” to keep its “strong profitability intact”.
Ola, which has postponed its IPO plans, has also reportedly shopped around its global investment plans to expand further abroad.
The company currently has nearly 1,100 employees in its core business and competes directly with Uber.
Last month, Ola shut down his used vehicle business
The company closed Ola Cars within a year of its launch, as it focuses on its electric two-wheelers and electric cars.
Ola has stopped so far
“Ola has reassessed its priorities and has decided to discontinue Ola Dash, its high-speed trading business. Ola will also refocus its Ola Cars business to focus more on strengthening its go-to-market strategy for Ola Electric,” the company had said. in a statement.
It added that Ola Cars’ infrastructure, technology and capabilities “will be leveraged to grow Ola Electric’s sales and service network.”
Ola now wants to invest more in its electric car, cell manufacturing and financial services business.
Ola Electric, amid several high-profile exits, is also under scrutiny for faulty batteries in its electric two-wheelers, alongside other EV players such as
Alarmed by the ongoing EV fire incidents, the Center has now sent warnings to EV manufacturers, warning them why no criminal action should be taken against them for supplying faulty electric two-wheelers to the public.
The EV makers have until the end of July to respond extensively to the announcements.
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