In a report, a company spokesperson stated that over a few couples of years, Ola has expanded its core mobility business and founded new enterprise verticals such as business services, food, public transportation technology, and electronic mobility.
Ola has concluded to redesign and restructure the business, for which it aims to cut its 4,500-strong workforce by 5-8 percent which will be approximately 350 workers, business experts told on Friday. Amidst the layoff, the organization intends to convert more clever and have a more explicit focus on progress and profitability. The move is seen as part of the mobility platform’s plan to turn successful and go public in the next 18-24 months.
The specialists advanced that the organization is also leading some workers to additional verticals like Ola Electric, Ola Financial Services, and Ola Foods as part of the organizational restructuring.
In a report, an organization spokesperson said that over the prior couple of years, Ola has expanded its core mobility business and included new business verticals such as financial assistance, food, public transport technology, and electrical mobility.
To convert more clever and have a more explicit focus on growth and profitability, we are redesigning the organization to develop a structure that encourages and leverages our regional and global measure and facilitates more active determination-making beyond all of Ola’s group businesses,” said the spokesperson.
Established in 2011 by Bhavish Aggarwal and Ankit Bhati, Ola currently gives its assistance over 250 cities in India, the UK, Australia, and New Zealand.
The Ola app allows service and clarity for hundreds of millions of customers and over 2 million driver-partners.
Our organizational redesign points to rightsize all our services as well as support skillsets and expertise in mobility employees in available jobs in new enterprise verticals,” the spokesperson continued.
In its business year 2019, Ola grew its income by 16 percent to Rs 2,155 crore while its accidents went dropping by nearly 50 percent to Rs 1,158 crore in comparison to FY2018.
The ride-hailing firm started its services in the UK beginning with Cardiff in August 2018.
Ola has been firmly growing beyond the country to now assisting millions of users over Exeter, Birmingham, Warwick, Reading, Bristol, Bath, Coventry, and Liverpool.