Indian ride-hailing giant Ola cuts 180 jobs in profitability push

Trending 3 weeks ago

Ola has fto spell its main executive serviceman Hemant Bakshi, simply 4 months aft making nan appointment, and is cutting astir 180 jobs, a root acquainted pinch nan matter told TechCrunch. The move from nan Indian ride-hailing startup is aimed astatine “improving profitability,” its laminitis Bhavish Aggarwal told labor successful an email Monday seen by TechCrunch.

The Bengaluru-headquartered startup, which counts SoftBank and Tiger Global among its backers, is undergoing a “restructuring exercise” to cogwheel up for its “next shape of growth,” Aggarwal, pictured above, wrote successful nan email.

The move follows Ola shutting down its operations successful nan U.K., Australia and New Zealand earlier this month. Bakshi, a erstwhile HUL executive, was appointed arsenic Ola main executive successful January this year.

You tin publication nan Aggarwal’s email successful its entirety below.

Dear All,

In statement pinch our imagination to service 1 Billion Indians, and our committedness to thrust sustainable maturation and heighten ratio crossed nan organization, we are undergoing a restructuring workout aimed astatine improving profitability and preparing ourselves for nan adjacent shape of growth.

We person made important investments successful areas of AI & Technology which has led to important costs advantages and we will proceed to attraction connected these areas to guarantee that we build cutting separator products and services crossed our business verticals.

These changes will consequence successful definite roles wrong nan institution becoming redundant. This determination was not made lightly, and we are committed to supporting those impacted during this modulation period.

Hemant will beryllium stepping down from his domiciled arsenic CEO to prosecute opportunities extracurricular nan company. We widen our gratitude to Hemant for his contributions and wish him nan champion successful his early endeavors.

I americium very assured of nan beardown activity squad which we person built complete nan past fewer years astatine Ola Consumer, who bring successful a batch of acquisition and expertise to their respective roles. They will collaborate intimately pinch maine to thrust technology-led growth.

We are committed to transparency and unfastened connection passim this process. Our HR squad would beryllium disposable to reside immoderate queries aliases concerns you whitethorn have.

Thank you for your unwavering dedication and committedness to Ola.