Sources in the know say that Ola, a ride-hailing startup, has chosen not to fire the 200 engineers it had originally planned to. The company’s ride-hailing and finance companies reportedly let off 200 engineers in a new round of layoffs in September.
At a town hall gathering presided over by some of the company’s senior IT leaders, workers were made aware of the change in the plan.
10% of the company’s engineering staff would have been affected by the layoffs. As it intensifies its focus on cell production, a four-wheeler project, and other activities linked to EVs and mobility, the Bengaluru-based company claimed at the time that it will boost its engineering workforce to more than 5,000 in the following 18 months.
The news of the company’s most recent decision was originally reported by the newspaper Deccan Herald.
As the company closed several other operations, including a used car marketplace and food and grocery delivery services, Ola has already let go of over 1,000 workers. The firm’s internal unpredictability comes at a time when late-stage entrepreneurs are finding it difficult to attract money due to adverse global macroeconomic conditions.