Ola may lay off up to 500 employees in order to drive cost-efficiency

Layoffs may take place across Ola departments amid challenging funding environment and delay in listing plans

SoftBank-backed mobility platform Ola is in the process of laying off 400-500 employees -- in a move aimed at driving cost efficiency, revealed sources. They said these layoffs are taking place across departments, amid a challenging funding environment and a delay in listing plans for the Bhavish Aggarwal-led firm.

This development comes days after the company shut down its used vehicle business Ola Cars and quick-commerce business Ola Dash which promised 10-minute food delivery. It has repurposed the infrastructure and capabilities of the Ola Cars business towards boosting the Ola Electric sales and service network.

The company shut down Ola