Ola's talent acquisition head Shikharr Sood quits too
His resignation comes amid several resignations by top executives.
Several former executives said that product complaints, unit closures, and 'act fast, think later' culture has led to recent Ola troubles, CNBC reported, adding that the company is yet to respond to the query on Sood's resignation.
Meanwhile, a recent media report also said that the ride-hailing platform Ola is planning to lay off up to 500 employees across departments as it aims to cut costs and streamline operations amid the ongoing funding winter.
Meanwhile, a recent report said that the ride-hailing platform Ola is planning to lay off up to 500 employees across departments as it aims to cut costs and streamline operations amid the ongoing funding winter.
According to reliable sources, SoftBank-backed Ola has asked senior executives to find employees in their teams on a performance basis who can be asked to go.
The company is reportedly looking at "leaner and consolidated teams" to keep its "strong profitability intact". Ola, which has delayed its IPO plans, has also reportedly shopped its global investment plans to further expand overseas.
The company currently has nearly 1,100 employees in its core ride-hailing business and directly competes with Uber.
Last month, Ola shut down its used vehicle business
The company shut Ola Cars within one year of its launch, as it focuses on its electric two-wheeler and electric car verticals. Ola has so far shut down
SEE ALSO : It’s not just crude, gold, silver and even wheat and edible oil prices are going down
DMart has more stores and no disruptions like it wanted – and investors are excited
Popular on BI
- Gold and silver jewellery to get a lot more expensive
- Indian tycoon Gautam Adani has abandoned a $2.5 billion fundraising effort in his latest setback following a short seller attack on his business empire
- It's been a very bad month for Indian billionaires — four of the richest Indians have collectively lost about $45 billion in 2023
- Rupee gains 12 paise to 82.08 against US dollar
- Lok Sabha adjourned till 2 pm, Rajya Sabha till 2:30 pm over Adani issue
- Amul milk price increased – here’s how much Amul and others are selling milk for
- Electric two wheeler sales volume in India expected to reach 22 million by 2030, says Redseer report
- Holy Cow! China clones three 'Super Cows' to produce milk by the gallons