Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

Ola Electric is cutting 500 jobs across verticals and levels as part of a restructuring exercise, according to people aware of the development. The company, which has come under the scanner for its poor aftersales service recently, had started the job cut in the September quarter. "It has been going on for some time now, starting around July. It has been a gradual process of removing redundant roles across verticals and levels," said a source. The exercise is expected to be completed by the end of this month. Ola Electric is looking to optimise workforce with an aim to improving margins and enhance profitability, the person added. Earlier this month, Central Consumer Protection Authority (CCPA) had ordered a detailed probe into complaints related to alleged "deficiencies" in services and electric two-wheelers manufactured by Ola Electric. Last month, the company had said that out of 10,644 complaints received from CCPA, it has resolved 99.1 per cent of the complaints.

Ola Electric cuts 500 jobs across verticals

Ride-hailing major <keyword id="6354720" type="General" weightage="100" keywordseo="ola" source="Orion">Ola</keyword> has started to lay off 200 employees from its <keyword id="6362049" type="General" weightage="50" keywordseo="ola-cabs" source="Orion">Ola Cabs</keyword>, Ola Electric and <keyword id="7306214" type="General" weightage="50" keywordseo="ola-financial-services" source="Orion">Ola Financial Services</keyword> verticals as part of the "restructuring" exercise. The layoffs, which were first announced in September last year, happened across the teams. The company told IANS that it is "centralising operations and is undertaking a restructuring exercise to minimise redundancy and build a strong lateral structure that strengthens relevant roles and functions". The layoffs constitute 10 per cent of its 2,000-strong engineer workforce "as part of a larger restructuring exercise towards its electric dream". "Currently, the company has around 2,000 engineers and aims to increase its engineering talent pool to 5,000 over the next 18 months," according to the ride-hailing company. The Bhavish Aggarwal-run company has nearly 1,100 employees in its core ride-hailing business. Earlier, restructuring exercises impacted employees across product, marketing, sales, supply, tech, business, and operations verticals at the company, affecting nearly 500 employees that "were a result of restructuring in the cars and dash businesses". The ride-hailing major last year shut down its used vehicle business <keyword id="3295694" type="General" weightage="50" keywordseo="ola-cars" source="Orion">Ola Cars</keyword>, as well as its quick-commerce business, <keyword id="13052888" type="General" weightage="50" keywordseo="ola-dash" source="Orion">Ola Dash</keyword>, as the company shifted to focus on its electric two-wheeler and car verticals. Ola said it plans to hire 5,000 engineers as it doubles down on new engineering verticals and strengthens capabilities across the vehicle, cell, battery, manufacturing and autonomous streams. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/fugitive-diamantaire-mehul-choksi-buying-protection-by-bribing-antigua-officials-says-an-expos-on-blogger/articleshow/96956166.cms">Fugitive diamantaire Mehul Choksi buying protection by bribing Antigua officials, says an exposé on Blogger</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/oneplus-11-5g-launch-event-how-to-buy-event-tickets-price-benefits-and-more/articleshow/96956696.cms">OnePlus 11 5G launch event – how to buy event tickets, price, benefits, and more</a>

Layoffs begin at Ola, 200 employees to be impacted by restructuring exercise

<ul><li>The tech industry has seen more than 200,000 <keyword id="6357067" type="General" weightage="100" keywordseo="layoffs" source="Orion">layoffs</keyword> since the start of 2022.</li><li>Instead of performance, the focus for layoffs is more on eliminating redundant roles that no longer add a major value to the organization.</li><li>Some of the red flags an employee should look out for are a decrease in hiring, budget cuts and changes in management.</li></ul>Bipin Singh, a business development manager at Byju’s with over 11 years experience in the EdTech industry was laid off last month after a stint of 1.5 years at the company. In his LinkedIn post he mentioned about the layoff and urged everyone to reach out to him with job offers or if not, like share and comment on his post to increase reach. Anil <keyword id="906861" type="General" weightage="50" keywordseo="sahani" source="Orion">Sahani</keyword>, a software engineer, lost his job in Accenture recently .“I was one of the first ones to let go as I was a contract employee and also did not have any notice period. The layoffs are still on.” Singh and Sahani are among the thousands of employees who have been affected by tech layoffs in India. Google trend data, which reflects what people search for, shows that between January 22-28 this year, the term ‘layoff’ was at its peak popularity of 100, while between January 23 to January 29 last year, it was just at five. This is not surprising because layoffs are being reported majorly in the media and almost every other post on Linkedin is talking about layoffs. It all started with the news that the big tech giants like Amazon and Google parent Alphabet were laying off in large numbers. While Alphabet laid off 12,000 people, the Amazon layoffs affected more than 18,000 people. Microsoft said it will lay off 10,000 people by the end of the third quarter of 2023 and even SAP and IBM have started laying off employees. It seems it is almost like a contagion that is spreading rapidly like wildfire. The Indian situation: Which brings us to the question: Is the situation as bad in India? Layoffs are now a reality in India too. Reports suggest that around 21,000 techies have lost their jobs in the last three to four months. In the third week of January, Wipro fired more than 400 freshers for failing performance tests. While Amazon has laid off 1,000 of its employees in India, IBM and SAP are also laying off employees, affecting their employees in India as well. Very recently, Byju’s laid off 1,000 people, in a second round of layoffs in February. Sivaprasad N, vice president &amp; business head, TeamLease Digital, a staffing solutions company, puts the number of layoffs in the tech industry at more than 2,00,000 since 2022. Over 21,000 employees <a href="https://www.businessinsider.in/business/news/70-plus-indian-startups-show-exit-door-to-21k-techies-more-pink-slips-coming/articleshow/97411761.cms?">have been laid off </a>by 70 startups in the past 3-4 months including from unicorns like BYJU'S, <keyword id="6354720" type="General" weightage="50" keywordseo="ola" source="Orion">Ola</keyword>, MPL, Innovaccer, Unacademy, Vedantu, Cars24, OYO, Meesho, Udaan and many more. Anuj Gupta, who has over 10 years of experience in SEO, has lost his job in edtech company upGrad and is a part of the current tech and marketing layoff wave. The layoff situation in India is currently more of a spill-over effect of shake-ups in the West. Unlike the funding winter that hit the Indian funded tech startups cohort in 2022, the current layoffs by big labels are largely corrective talent adjustments. “Despite potential opportunities coming our way due to global shakeups, it is prudent for India Inc. to treat the current layoffs as a tip of the iceberg,” says <keyword id="138078" type="General" weightage="50" keywordseo="kamal-karanth" source="Orion">Kamal Karanth</keyword>, CoFounder, Xpheno, a specialist staffing company. He adds that enterprises, especially in tech, will benefit from remaining alert and conservative on costs for at least two quarters. Agrees Sivaprasad, “Companies are battling a slowdown in demand after a hiring frenzy. No company is certain to avoid significant cutbacks in such an economic environment. We are witnessing a significant drop in tech hiring unlike previous years as companies are only doing selective hiring for critical projects. It looks like the trend will continue for some time.” Many IT majors have announced mass layoffs in the last couple of months, quoting factors like overhiring, an impending recession and geopolitical conflicts. “We expect businesses to exhibit caution in hiring and workforce management through a major part of 2023,” <keyword id="13896318" type="General" weightage="50" keywordseo="sachin-alug" source="Orion">Sachin Alug</keyword>, CEO, NLB Services - a global technology &amp; digital talent solutions company. Delhi-based Pankaj Kumar, laid off from a software company this month, says that one day he got a message saying that the company was restructuring and that it was his last day. “However, we were forced to resign and also we received very little in the name of assistance as promised.” Kumar feels that most startups today have no clue about manpower requirements and just hire to show their investors that they are doing well without having an idea of how they can sustain themselves in crucial times. Tech jobs have been the most affected: As discussed, tech companies, especially IT firms, are very vulnerable to an impending recession in the US. “The tech sector has always been highly sensitive to economic cycles, and the current economic downturn could have a significant impact on these companies. A recession could lead to decreased consumer spending, reduced corporate investment, and layoffs, which could all hit tech companies hard,” says <keyword id="328697" type="General" weightage="50" keywordseo="sandeep-budhiraja" source="Orion">Sandeep Budhiraja</keyword>, Co-founder, Executive Director and Chief People Officer - BYLD Group which provides HR and Business productivity solutions, Additionally, the US market is a major source of revenue for many tech companies, so a recession here could have a widespread impact on global operations. Finally, any disruption to the global supply chain could further disrupt tech companies, as many rely on components and materials sourced from around the world. “The sectors that may be most affected, other than the technology, are telecommunications, financial services and retail. The telecommunications sector could be hit by reduced investment in infrastructure and lower customer demand. The financial services sector could be adversely affected by a decrease in credit availability and tightened lending standards, while the retail sector could suffer from decreased consumer spending,” adds Budhiraja. Everyone is vulnerable: “Instead of performance, the focus for layoffs is more on eliminating redundant roles that no longer add major value to the organization. Usually, mass layoffs affect employees invariably regardless of their performance but in organizations that choose to let go of a selected few, performers at a certain level tend to be the target,” says Alug. The primary causes of layoffs are the foreseeable recession and the geopolitical scenario which have led to inflation, impacting many industries. Prominent players in the IT and Technology domain are being cautious to ensure profitability and better predictability of business. Agrees Karanth, “The larger layoffs related to enterprise strategy and austerity are mostly across the ranks and ratings of performance. Such layoffs related to macroeconomic movements are typically steamrollers on entire divisions, geographies and business units. While each enterprise has their own pattern of priority on the layoffs, the high cost and high volume headcounts typically come under the lens faster.” Look out for red flags: “Layoffs in a situation like now are largely written on the wall. It is often the speed and style of a layoff that's a surprise to talent, and not the layoff by itself,” says Karanth. Some of the red flags an employee should look out for are a decrease in hiring, budget cuts and changes in management. “Additionally, if a company is reducing or eliminating certain departments or projects, it may be a sign that layoffs are coming. If there are rumours of layoffs or if employees are being asked to take unpaid leave, this could also be a sign that layoffs are imminent. Finally, if the company is not meeting its financial goals or is experiencing a downturn in business, layoffs may be a possibility,” says Alug. Hiring remains slow: “Many of those who lost their jobs are still looking for work, as nearly every major corporation has put a freeze on new hiring due to global macroeconomic conditions and recession fears. We are witnessing a significant drop in tech hiring unlike previous years as companies are only doing selective hiring for critical projects. Looks like the trend would continue for some time,” says Sivaprasad. However Karanth feels that while tech hiring has slowed down, there are opportunities for talent who are flexible and agile to look beyond their domain. The non-tech sector's talent demand has been compensating well for tech's hiring slowdown. <keyword id="2838370" type="General" weightage="50" keywordseo="shraddha-jain" source="Orion">Shraddha Jain</keyword>, who is also known as 'Aiyyo Shraddha' on social media, posted a hilarious video on Instagram, where she slammed companies for laying off employees despite making a profit. "At the company offsite, we celebrated the company tripling its profit in a year. What happened? A month later we are so poor. Who robbed us?" she asked. While these are questions that reflect the grim reality of large scale layoffs, employees should brace themselves for tough times ahead. 2023 will be a turbulent ride.

Tech layoffs to continue for sometime thanks to a slowdown in demand and an uncertain economic environment

More than 1,600 tech employees are being laid off per day on average in 2023 globally including in India, and the sacking episodes have gained speed amid <keyword id="16083439" type="General" weightage="20" keywordseo="global-economic-meltdown-and-recession-fears" source="Orion">global economic meltdown and recession fears</keyword>. In 2022, over 1,000 companies laid off 154,336 workers, as per the data from layoffs <keyword id="16083440" type="General" weightage="20" keywordseo="tracking-site-layoffs-fyi-" source="Orion">tracking site Layoffs.fyi.</keyword> The <keyword id="16083430" type="General" weightage="20" keywordseo="mass-tech-layoffs" source="Orion">mass tech layoffs</keyword> of 2022 are continuing into the new year, and Indian companies and startups are among the leaders in firing staff. Homegrown social media company ShareChat (Mohalla Tech Pvt Ltd) laid off 20 per cent of its workforce due to uncertain market conditions, affecting more than 500 employees. Backed by Twitter, Google, Snap and Tiger Global, ShareChat has about 2,300 employees. In December 2022, ShareChat laid off less than 5 per cent of its employees after it shut down its fantasy sports platform called Jeet11. Companies like Ola (which fired 200 employees) and voice automated startup Skit.ai also dominated the headlines for laying off employees this month. Homegrown quick-grocery delivery provider Dunzo has laid off 3 per cent of its workforce amid cost-cutting measures. The year 2023 has begun on a bad note for tech workers globally and 91 companies have laid off more than 24,000 tech employees in the first 15 days this month, signalling worse days ahead. Amazon announced to lay off 18,000 employees globally, including nearly 1,000 in India. Meanwhile, LinkedIn is full of job hunts, offers of support for laid off friends and colleagues, and advice for coping with career hurdles as several companies trim their workforce to navigate through an uncertain macroeconomic environment. According to market research firm Sensor Tower, the LinkedIn app was downloaded an estimated 58.4 million times in 2022 globally across Google Play Store and Apple App Stores -- up 10 per cent from 2021. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/paytm-payments-bank-gets-final-nod-from-rbi-to-operate-bharat-bill-payment-system-services/articleshow/97032913.cms">Paytm Payments Bank gets final nod from RBI to operate Bharat Bill Payment System services </a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/indian-ceos-see-a-difficult-year-but-most-say-they-wont-go-for-job-or-salary-cuts-pwc-survey/articleshow/97046963.cms">Indian CEOs see a difficult year but most say they won’t go for job or salary cuts: PwC survey</a>

Over 1,600 techies being fired a day on average in January says tracking site Layoffs.fyi

New Delhi, As global layoffs deepen, Indian startups are not far behind and have sacked thousands of employees in the past 3-4 months, with many more to be given pink slips in the coming months amid deepening funding winter. In <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>, more than 21,000 employees have been laid off by more than 70 startups to day, including from unicorns like BYJU'S, <keyword id="6354720" type="General" weightage="80" keywordseo="ola" source="Orion">Ola</keyword>, MPL, Innovaccer, Unacademy, Vedantu, Cars24, <keyword id="2808667" type="General" weightage="50" keywordseo="oyo" source="Orion">OYO</keyword>, Meesho, Udaan and many more. The edtech sector has laid off the most employees, with 16 edtech startups laying off more than 8,000 employees to date. With the onset of January, more and more Indian companies are slashing jobs across the spectrum. The new year has already seen more than 16 homegrown startups sack employees in the country. Social media company <keyword id="3358959" type="General" weightage="80" keywordseo="sharechat" source="Orion">ShareChat</keyword> (Mohalla Tech Pvt Ltd) has laid off 20 per cent of its workforce due to uncertain market conditions. Backed by Twitter, Google, Snap and <keyword id="526777" type="General" weightage="80" keywordseo="tiger-global" source="Orion">Tiger Global</keyword>, ShareChat has about 2,300 employees, and the layoff impacted about 500 people at the company, Healthtech unicorn Innovaccer has sacked nearly 245 employees, or about 15 per cent of its workforce, across teams in India and the US. Innovaccer cofounder and CEO Abhinav Shashank cited an "uncertain macroeconomic environment" as the reason behind the job cuts, according to an internal mail sent to employees and accessed by leading startup news portal Inc42. This was the second layoff at the company in around 4-5 months' time amid the deepening funding winter and recession fears. In September last year, Innovaccer laid off nearly 120 employees, or less than 8 per cent of its workforce. Online food delivery platform <keyword id="6358977" type="General" weightage="50" keywordseo="swiggy" source="Orion">Swiggy</keyword> confirmed that the company is laying off 380 employees as food delivery growth slows. MediBuddy, an end-to-end digital healthcare platform in India, has laid off 8 per cent of its workforce, around 200 people, across all departments as a restructuring exercise. Homegrown online vehicle repair platform GoMechanic, backed by <keyword id="563136" type="General" weightage="50" keywordseo="sequoia-india" source="Orion">Sequoia India</keyword>, has laid off 70 per cent of its workforce as the startup struggles to raise funds amid serious concerns of accounting troubles. The company has asked the remaining staff to work without pay for three months, according to reports. Software-as-a-service (SaaS) voice automation startup Skit.ai has asked more than 115 employees to go, mostly from its India team, as part of the "restructuring process" amid the deepening funding winter. Even IT giant <keyword id="10862" type="General" weightage="50" keywordseo="wipro" source="Orion">Wipro</keyword> has laid off more than 400 fresher employees for poor performance in internal assessment tests. SEE ALSO: <a href="https://www.businessinsider.in/budget/news/budgeting-for-climate-change/articleshow/97378027.cms">Budgeting for the fifth C</a> <a href="https://www.businessinsider.in/business/news/an-app-that-wants-to-turn-fear-of-stock-markets-into-fun-raises-75-lakh-from-sharks/articleshow/97378121.cms">An app that wants to turn fear of stock markets into fun raises ₹75 lakh from sharks</a> <a href="https://www.businessinsider.in/india/news/steps-taken-in-subsidence-hit-joshimath-inadequate-declare-himalayas-eco-sensitive-zone-say-experts/articleshow/97411665.cms">Steps taken in subsidence-hit Joshimath inadequate, declare Himalayas eco-sensitive zone, say experts</a>

70-plus Indian startups show exit door to 21K techies, more pink slips coming

The year 2023 began on a bad note for tech workers globally and 91 companies have laid off more than 24,000 tech employees in the first 15 days this month, signalling worse days ahead. About 24,151 tech workers lost their jobs, dominated by companies like Amazon, Salesforce, <keyword id="1972612" type="General" weightage="80" keywordseo="coinbase" source="Orion">Coinbase</keyword> and others, according to layoff tracking website Layoffs.fyi.Crypto lending exchange Crypto.com last week announced that the company will reduce its global workforce by approximately 20 per cent amid ongoing economic headwinds and unforeseeable industry events. In India, companies like <keyword id="6354720" type="General" weightage="80" keywordseo="ola" source="Orion">Ola</keyword> (which fired 200 employees), voice automated startup Skit.ai, dominated the headlines in January.In December last year, over 17,000 tech employees were shown the door. According to the website which has been tracking job losses since the start of the pandemic, 153,110 workers were let go in 2022, led by companies like <keyword id="399907" type="General" weightage="80" keywordseo="meta" source="Orion">Meta</keyword>, Twitter, <keyword id="43340" type="General" weightage="80" keywordseo="oracle" source="Orion">Oracle</keyword>, <keyword id="113675" type="General" weightage="80" keywordseo="nvidia" source="Orion">Nvidia</keyword>, Snap, Uber, Spotify, Intel and Salesforce, among others. The number of layoffs reached its nadir in November, which saw 51,489 tech workers lose their jobs. Google is another Big Tech company expected to take harsh steps to reduce its headcount in early 2023. Approximately 6 per cent of Google employees could be sacked over "not having enough impact", according to a report by The Information. Google layoffs in 2023 could see as many as 11,000 employees lose their jobs. It means that 2023 is going to become the worst year in the history of the tech world. All eyes are now on the Big Tech quarterly results that will come out at the end of this month. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/what-is-prime-lite-membership-and-what-are-benefits-of-this-membership/articleshow/97020543.cms">Amazon tests Prime Lite membership in India, a cheaper alternative to Prime — here’s how it's different</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sports/news/viacom18-wins-womens-ipl-media-rights-for-951-crore-for-2023-27/articleshow/97023787.cms">Viacom18 wins Women's IPL media rights for 951 crore for 2023-27</a>

91 tech companies lay off over 24,000 employees in Jan to date

More than 32,000 tech workers have been laid off in the US till July this year, including at Big Tech companies like <keyword id="10387" type="General" weightage="80" keywordseo="microsoft" source="Orion">Microsoft</keyword> and <keyword id="399907" type="General" weightage="80" keywordseo="meta" source="Orion">Meta</keyword> (formerly Facebook) and the worst has not been over yet for the tech sector that has seen massive stock sell-off. According to the data compiled by Crunchbase, more than 32,000 workers in the US tech sector have been laid off in mass job cuts, as of late July. "We've included both startups and publicly traded companies that are based in the US. We've also included companies based elsewhere that have a sizable team in the United States, such as Klarna," the analysis said. The layoff includes ride-sharing platform Uber, <keyword id="128682" type="General" weightage="80" keywordseo="netflix" source="Orion">Netflix</keyword> and several cryptocurrency exchanges and lending platforms. Robinhood, <keyword id="4522875" type="General" weightage="80" keywordseo="glossier" source="Orion">Glossier</keyword> and Better are just a few of the tech companies that have trimmed their headcount this year. Since April 1 this year, more than 43,000 workers from 342 tech companies/startups have been laid off across the world and over 13 per cent are from <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword>, according to latest data compiled by layoffs.fyi, a website that tracks layoffs in startups. In India, more than 25,000 startup workers have lost jobs since the pandemic began -- and more than 11,500 have been fired this year. The layoffs in India are dominated by edtech platforms like Unacademy (1,150 employees), BYJU'S (550 at Toppr and <keyword id="8080458" type="General" weightage="80" keywordseo="whitehat-jr" source="Orion">Whitehat Jr</keyword>) and <keyword id="2016957" type="General" weightage="80" keywordseo="vedantu" source="Orion">Vedantu</keyword> (624), along with ride-hailing platform <keyword id="6354720" type="General" weightage="80" keywordseo="ola" source="Orion">Ola</keyword> (nearly 500), healthcare startup MFine (600) and pre-owned cars platform Cars24 (600), among others. The other Indian startups and unicorns that have laid off employees are Meesho, MPL, Trell and Blinkit (now owned by <keyword id="830092" type="General" weightage="80" keywordseo="zomato" source="Orion">Zomato</keyword>), among others. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/amazon-great-freedom-festival-date-announced-sale-starts-august-6-onwards/articleshow/93268050.cms">Amazon Great Freedom Festival date announced - sale starts August 6 onwards</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/swine-flu-resurfaces-in-keralas-wayanad-first-time-in-kannur/articleshow/93267832.cms">Swine flu resurfaces in Kerala's Wayanad, first time in Kannur</a>

Over 32K tech workers fired in US, more than 11K in India this year

<ul><li><keyword id="6354720" type="UNKNOWN" weightage="20" keywordseo="ola">Ola</keyword> believes this allocation will reward Ola’s ‘high impact’ employees. </li><li>The company claims to have seen a strong recovery in its ride hailing business. </li><li>Earlier this month, Ola raised $500 million in a pre-IPO round.</li></ul>Ride hailing giant Ola has expanded its employee stock option plan (<keyword id="120103" type="PERSON" weightage="20" keywordseo="Esop">ESOP</keyword>) pool to ₹3,000 crore. It has also allotted an additional ₹400 crore worth stock to employees ahead of its initial public offering (IPO), the company said in a press statement on Wednesday. ESOPs are employee benefit plans to offer employees a limited number of shares in the company. The company believes that this allocation will reward Ola’s high impact employees and lead to a long-term wealth creation for them. “Our expanded ESOP programme, along with the fresh stock allocation of ₹400 crore, enables our key talent to participate in the long term wealth creation opportunities generated by their innovations and the impact they create. It will also reinforce their sense of ownership and align their growth with that of the company as we continue to accelerate the world’s transition to sustainable mobility” said Bhavish Aggarwal, Ola’s cofounder and chief executive. Ola, in its press note, also highlighted that the company has seen strong recovery in its ride hailing business over the last several months. The company was severely hit by the first wave of COVID-19, as its revenue declined by 95% in April-May 2020. This led to layoffs in the company, impacting over<a href="https://www.businessinsider.in/business/startups/news/ola-fired-1400-employees-as-revenue-is-hit-by-95-in-the-last-two-months/articleshow/75843656.cms"> 1,400</a> employees in May 2020. The Bengaluru-based startup got the wheels for its IPO rolling earlier this month, when it raised <a href="https://www.businessinsider.in/business/startups/news/ola-app-raises-500-million-from-temasek-and-warburg-ahead-of-ipo/articleshow/84261607.cms">$500 million from investment titans</a> Temasek and Warburg Pincus in a pre-IPO round. The company’s chief executive Aggarwal also infused an undisclosed amount in the startup in his personal capacity. The company was founded in 2010 by Aggarwal and Ankit Bhati. It has marked its presence across three continents. It has raised $4 billion to date from marquee investors like SoftBank, Tencent, Steadview Capital, Eternal, Sailing Capital, China Eurasian Economic Cooperation Fund and others. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/droom-automobile-marketplace-raises-200-million-in-a-pre-ipo-round-at-unicorn-valuation/articleshow/84818567.cms" data-type="tilCustomLink" style="">Automobile marketplace Droom is raising $200 million in a pre-IPO round at unicorn valuation</a> <a href="https://www.businessinsider.in/business/startups/news/the-whole-truth-a-healthy-packaged-food-brand-raises-6-million-from-sequoia-capital/articleshow/84815594.cms" style="">The Whole Truth, a ‘healthy’ packaged food brand, raises $6 million to enter new categories</a> <a href="https://www.businessinsider.in/stock-market/news/rolex-rings-ipo-opens-on-july-28-and-closes-on-july-30-with-a-price-band-of-880-900/articleshow/84813639.cms" style="">Rolex Rings IPO opens today with a price band of ₹880-900</a>

You Searched For "Ola layoffs" and got 8 results

Ola Electric cuts 500 jobs across verticals

PTI

Layoffs begin at Ola, 200 employees to be impacted by restructuring exercise

IANS

Tech layoffs to continue for sometime thanks to a slowdown in demand and an uncertain economic environment

Anagh Pal

Over 1,600 techies being fired a day on average in January says tracking site Layoffs.fyi

IANS

70-plus Indian startups show exit door to 21K techies, more pink slips coming

IANS

91 tech companies lay off over 24,000 employees in Jan to date

IANS

Over 32K tech workers fired in US, more than 11K in India this year

IANS

Ola expands ESOP pool to ₹3,000 crore, issues stock worth ₹400 crore to employees

Kritti Bhalla

Popular Keywords

Buying Guides