Ola Layoff: The process of layoffs continues, Ola said to lay off 200 employees.

Riding service provider company Ola is preparing for massive layoffs. The company has started preparing to fire ten percent of its team of two thousand engineers i.e. about 200 employees. According to experts, notices have been sent to the affected employees on behalf of the company. Ola on Monday confirmed the reports of layoffs, saying it is part of the company’s larger restructuring exercise. However, the company has denied the media reports in which it was being said that the company is going to lay off 500 of its employees. The company has said that only 200 engineers are being fired, out of which some are employees associated with the software vertical.

The company gave clarification on the news going on in the media

Let us tell you that since Monday morning, it was claimed in some media reports that ANI Technology, the company that operates Ola Cabs, is going to lay off about 500 employees from its software verticals. Clarifying on these reports, it has been said from Ola that at present it has 2000 engineers and in the next months it is going to increase its engineering team to 5000. Under this exercise, the service of some personnel will be affected but it will not exceed 200.