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Ride-hailing major <keyword id="6354720" type="General" weightage="100" keywordseo="ola" source="Orion">Ola</keyword> on Monday clarified that nearly 200 engineers, including some in the software vertical, have been asked to go from its 2,000-strong engineer workforce -- 10 per cent of the headcount -- as part of a larger restructuring exercise towards its electric dream. The company denied sacking 500 employees, adding 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". CNBC first reported that nearly 500 employees are being laid off from the various software verticals of <keyword id="21936" type="General" weightage="50" keywordseo="ani" source="Orion">ANI</keyword> technologies which operates as <keyword id="6362049" type="General" weightage="50" keywordseo="ola-cabs" source="Orion">Ola Cabs</keyword>. "The company currently has around 2,000 engineers and aims to increase its engineering talent pool to 5,000 over the next 18 months," said 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 recently 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 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 vehicle, cell, battery, manufacturing and autonomous streams. However, <keyword id="4393078" type="General" weightage="50" keywordseo="ola-electric" source="Orion">Ola Electric</keyword>'s sales are diminishing and it sold 3,421 EV two-wheelers in August, a drop from 3,862 units the company sold in July. More than half a dozen senior executives have quit Ola Electric in recent months while over 30 senior executives have left Ola in the past two years. Recently, Ola Electric's head of advanced battery engineering, Ashok Saraswat, moved on. Saraswat, who joined SoftBank-backed Ola last year, is reportedly joining a company that is entering the battery business. As EV two-wheeler sales drop amid battery fire fears, Okinawa Autotech, PureEV and Ola Electric recalled 6,656 vehicles after the battery explosion incidents increased in the country. The government has said it is extra vigilant about the safety standards of EVs and experts are on the job. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/ev-battery-can-charge-in-three-minutes-a-harvard-backed-company-claimed/articleshow/94295446.cms">Harvard-backed company makes an EV battery that fully charges in three minutes</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/ola-laying-off-500-employees-from-its-software-verticals-report/articleshow/94294728.cms">Ola laying off 500 employees from its software verticals: Report</a>

Laying off 200 engineers to 'centralise' operations, clarifies Ola

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><keyword id="6354321" type="General" weightage="100" keywordseo="bengaluru" source="Orion">Bengaluru</keyword> tops the list with the highest hiring sentiment in the services sector, <keyword id="6358070" type="General" weightage="80" keywordseo="mumbai" source="Orion">Mumbai</keyword> tops the list in the manufacturing sector. </li><li>The recovery from Covid-19 pandemic and government initiatives is believed to have fueled growth in companies across sectors.</li><li>Tier-1 cities have the highest hiring intent but Tier-2 cities are not far behind.</li></ul>Bengaluru and Mumbai emerged as sunshine locations for hiring in India in the fourth quarter of FY23. This has reportedly been fueled by the recovery from the Covid-19 pandemic and initiatives by the government, says a <keyword id="133742" type="General" weightage="20" keywordseo="teamlease" source="Orion">Teamlease</keyword> report. According to the TeamLease Employment Outlook Report for Q4, Bengaluru and Mumbai have emerged as the cities with the highest hiring sentiment in the services and manufacturing sectors respectively. “Surplus public investment in PLI schemes, the Indian Government's asset monetization programme, increased private participation in key sectors, and the revisions in FDI laws in the defence and telecom sectors has fueled growth in companies across sectors, especially in Tier 1 and Tier 2 locations. Companies are therefore shoring up their talent pool to meet their increasing requirements,” said Kartik Narayan, chief executive officer, TeamLease Services. TeamLease Services is one of the country’s leading human resource companies and offers its services to over 3,500 employers. In the services sector, Bengaluru tops the list with 97% of employers expressing a higher hiring interest, followed by Chennai with 94%, Delhi with 90%, Hyderabad with 86% and Mumbai with 85%. When it comes to the manufacturing sector, Mumbai tops the list with 97% of employers expressing a higher hiring sentiment, followed by Bengaluru with 94%, Chennai with 89%, Delhi with 84% and Pune with 73%. Bengaluru has shown the highest hiring intent, emerging as one of the top-two cities in both the sectors. Bengaluru and Mumbai have emerged as ‘sweet spots’ from a holistic perspective across sectors. Experts are also optimistic about the hiring outlook for the next quarter. “The positive hiring outlook will likely continue in the next quarter as well,” Narayan added. <cmsannotation type="cmsannotation" annotationid="Tier-1 cities express highest hiring intent" comment="subhead" text="Tier-1 cities express highest hiring intent">Tier-1 cities express highest hiring intent</cmsannotation> The report has stated that while Tier-1 cities have emerged on top with the highest hiring intent across both sectors, Tier-2 cities are not far behind with nearly 75% of employers indicating a positive sentiment. However, Tier-3 cities and rural areas are lagging behind with just 46% and 24% of employers expressing a hiring intent, respectively. In the services sector, e-commerce and allied startups have the highest hiring intent at 98%, followed by telecommunications at 94% and educational services at 93%. On the other hand, healthcare and pharmaceuticals dominate the list in the manufacturing sector with a 98% hiring intent, followed by FMCG at 86% and electric vehicle (EV) and infrastructure industry at 71%. "India’s GDP vision and multiple domestic focused initiatives has provided the much-needed impetus to the industry post the pandemic. This in turn has given a fillip to employment generation; improving the intent to hire across sectors, locations and industries. 60% employers in manufacturing and 77% in services, inclining to hire more, is a testament to the growing opportunities in the ecosystem,” said Mayur Taday, chief business officer, TeamLease Services. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/ola-s1-pro-move-os-3-review-proximity-unlock-calling-support-hypercharging-support-and-more/articleshow/97806031.cms">Ola S1 Pro Move OS 3 review – proximity unlock, calling support, hypercharging support, and more</a> <a href="https://www.businessinsider.in/tech/mobile/news/xiaomi-13-pro-with-leica-powered-camera-to-launch-in-india-on-february-26-heres-how-its-camera-was-made/articleshow/97765165.cms">Xiaomi 13 Pro with Leica-powered camera to launch in India on February 26 — here’s how its camera was made</a> <a href="https://www.businessinsider.in/tech/news/twitter-blue-launched-in-india-pricing-what-it-offers-and-should-you-subscribe/articleshow/97756303.cms">Twitter Blue launched in India – pricing, what it offers, and should you subscribe?</a>

Bengaluru, Mumbai sunshine locations for hiring in Q4: Teamlease report

<ul><li>India’s first gaming unicorn Dream11 is looking to hire 250 people over the year, while Icertis has 180 positions it's looking to fill. </li><li><keyword id="6354720" type="UNKNOWN" weightage="20" keywordseo="ola">Ola</keyword> has built a virtual internship program to onboard its campus recruitments, while Walmart Labs has promised to hire 2800 people in India. </li><li>The <keyword id="6357342" type="UNKNOWN" weightage="20" keywordseo="Hiring">hiring</keyword> comes in even when major companies and startups are laying off employees.</li></ul>With the coronavirus pandemic, markets across the world have crashed and even the likes of <a href="https://www.businessinsider.in/stock-market/news/when-warren-buffett-feels-fear-global-markets-quake/articleshow/75538855.cms">Warren Buffet </a>are holding on to fear. In India, companies across sectors have been cutting corners and much reluctantly announcing job cuts, pay cuts for hundreds of thousands of employees. But all hope is not gone. Many in India have announced their plans to hire and the tech community is the latest to join in to say they have big plans for the year despite the challenges from the coronavirus pandemic. <div type="Article" hostid="261" msid="75525940" title="Goldman Sachs, Deloitte, EY and other top audit firms hiring this week" mstype="2" mssubtype="0"></div> India’s first gaming unicorn Dream11 is looking to hire 250 people over the year. The parent company Dream Sports has already hired 80 since January 2020 and is employing across brands like Dream11 (over 180 positions), FanCode and DreamX. The majority of the hiring is for technology, design and product teams. Another unicorn Icertis – the contract management startup is looking to hire 180 people over the year. Monish Darda, co-founder &amp; CTO of Icertis, believes that this is the time when companies can sit up and turn things around. “Even if you look in the past, even though the crisis has not been something like Covid19, companies that have been fundamentally strong and have entered the crisis with a lot of dry powder, have done extremely well while coming out of it. We have been fortunate because we raised funds also last year,” Darda told Business Insider. He added that once you have moved past the first few stages of the crisis, you think of how you can be more fundamentally strong in terms of business processes. “For us this is an opportunity to grow and identify which areas of the business are not affected and grow in that direction, so we have positions open across the board,” he said. Virtual internships begin For thousands of graduates of colleges, this was the time to join their campus placement or an internship. While many companies had cancelled offers, some companies are <a href="https://www.businessinsider.in/careers/news/goldman-sachs-reliance-samsung-and-others-onboarding-interns-virtually-during-the-lockdown/articleshow/75526863.cms">now onboarding virtual interns. </a> Walmart Labs, the innovation wing of Walmart, which has announced that it will hire 2800 employees in India has also been actively hiring interns virtually. Indian ride hailing unicorn Ola too has been bringing on board its campus internship recruitments. Ola bets heavy on its internship programs. In fact, one of its most popular features – Ola Auto was actually suggested by an intern. <div type="image" title="Rohit&amp;#39;s session_Intern induction" msid="75551773" hostid="261" caption="&amp;lt;p&amp;gt;Ola&amp;#39;s virtual intern induction session&amp;lt;/p&amp;gt;"></div> “We have virtually onboarded 38 candidates from prestigious MBA schools like IIM Ahmedabad, IIM Bangalore, FMS, XLRI among others as part of our internship program working across verticals like mobility, electric mobility, financial services and international business,” Rohit Munjal. CHRO, Ola told Business Insider. See Also: <a href="https://www.businessinsider.in/business/corporates/news/both-silver-lake-and-mukesh-ambani-hope-that-reliance-jio-will-replicate-alibabas-magic-and-this-time-zuckerberg-will-get-a-chunk/articleshow/75548041.cms">Both Silver Lake and Mukesh Ambani hope that Reliance Jio will replicate Alibaba's magic⁠ — and this time Zuckerberg will get a chunk</a> <a href="https://www.businessinsider.in/business/startups/news/covid-19-threatens-to-kill-co-working-but-the-owners-believe-it-will-only-get-cheaper-and-better/articleshow/75546871.cms">Covid-19 threatens to kill co-working ⁠— but the owners believe it will only get cheaper and better</a>

Hiring now! Walmart, Dream11, Ola and Icertis – and they need both full-time staff as well as interns

<ul><li><keyword id="4393078" type="PERSON" weightage="20" keywordseo="Ola-Electric">Ola Electric</keyword> raised $250 million from Softbank to enter the unicorn club. </li><li>The subsidiary company of ride hailing unicorn Ola had earlier raised funds from <keyword id="6360722" type="UNKNOWN" weightage="20" keywordseo="ratan-tata">Ratan Tata</keyword>, Arun Sarin, Tiger Global, Matrix India and others. </li><li>Interestingly, all of these investors have also placed their bets on Ola.</li></ul>Ola Electric has become India’s latest unicorn after it raised $250 million from Softbank, according to filings sourced by paper.vc. Ola Electric Mobility , a subsidiary of the ride hailing unicorn Ola, has been in the news of late as India powers up its Electric Vehicle mission. In May, Ola Electric also raised funds from Arun Sarin, former Vodafone Group CEO and also from the Chairman Emeritus of Tata Group, Ratan Tata. In March, it had raised ₹4 billion from Ola’s existing and early investors – Tiger Global and Matrix India. Interestingly, most of the investors in Ola Electric are its parent company’s investors – from Softbank to Arun Sarin, Ratan Tata and even Tiger Global and Matrix India. “India can leapfrog problems of pollution and energy security by moving to electric mobility, create millions of new jobs and economic opportunity, and lead the world,” Bhavish Aggarwal, Co-founder &amp; CEO, Ola had said in March. Through Ola Electric, the company partnered with several equipment manufacturers and battery manufacturers, while looking to work with the automotive industry for solutions for electric vehicles. Ola had also recently announced its technology centre in the Bay Area, where it’s hiring over 150 engineers to develop next-generation technologies in mobility. See Also: <a href="https://www.businessinsider.in/ratan-tata-invests-in-ola-electric-mobility/articleshow/69199801.cms">Ratan Tata recharges Ola’s electric mobility wing – invests an undisclosed amount</a> <a href="https://www.businessinsider.in/ola-takes-on-mahindra-glyd-with-fresh-funds-wheres-uber/articleshow/68214440.cms">Ola gets fresh funds to take on Mahindra’s Glyd – where’s Uber?</a>

Ola’s investors back its electric company – Ola Electric – welcome it to the unicorn club

<ul><li><keyword id="6354720" type="UNKNOWN" weightage="20" keywordseo="ola">Ola</keyword>’s recently concluded Campus connect challenge saw 6000 registrations. </li><li>Students had to present business cases across Ola’s four focus areas – mobility, self-driven cars, dark kitchens in food business and financial services. </li><li>Ola plans to hire 150 students from premier institutes across India this year. </li></ul>Indian ride hailing unicorn Ola had recently conducted a campus connect challenge which received 6,000 registrations from students across India’s top business schools. Through the challenge, students were asked to submit project ideas/proposals across four business cases – mobility, self-driven cars, dark kitchens in food business and financial services. The winners of the challenge were Garima Pandey and Dimple Chandra from Mudra Institute of Communications, Ahmedabad (MICA). They presented a solution for the unique problem of streamlining driver partners and customer transactions at airports across cities. Ola is also an active campus recruiter. This year, the company plans to hire 150 students from premier institutes across India. “Ola strives to create a growth-led, entrepreneurial culture, where employees get to jump in head first and take control of their career paths very early on. They are encouraged to solve the real world business and technology problems across diverse verticals like mobility, financial services, electric mobility, food, skilling amongst others,” said Rohit Munjal, CHRO at Ola.

Ola offers internships and a prize money of ₹3 lakhs to winners of its campus challenge

<ul><li>Ethos is opening its new office in the tech hub of <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> — Bengaluru.</li><li>It will be hiring 150 people by next year or so for its engineering, data science and analytics and other departments.</li><li>The company will also be moving to other states like Hyderabad and Mumbai, Wange told Business Insider in an interview.</li></ul>Ethos, which is a United States-based term life insurance provider company, is all set to enter the Indian market by opening its new office in the tech hub of India — Bengaluru — to expand its technology innovation, engineering research and development, data analytics, data science, and operations, with a significantly large business delivery teams. To grow its business in India, the US company will be hiring 150 people by next year or so, which will be 30% of the total workforce of the company. It will be hiring people around in Bengaluru largely for engineering, data science and analytics, product management, and revenue and sales, told Lingke Wang, cofounder and president at Ethos to Business Insider in an interview. Wang said, “A lot of our top leadership is from India and after extensive research, we decided to set up an office in Bengaluru, as the city is fast emerging as a center for exceptional talent. We believe that this office will be critical for our next growth phase. India is home to one of the largest tech and analytics talent pools, and we plan to set up a significant business delivery team here, as well as build a team of experts that will help transform the lives of millions through our mission of making life insurance accessible and affordable for all.” The reason behind hiring, he mentioned, “The part of the reason why we’re hiring people in Bengaluru is because we need skill in our company to continue to grow our business.” When asked about further growth plans in India, Wange expressed his interest in moving to other states like Hyderabad, and Bombay (Mumbai). He said, “ Down the road opening more offices is definitely on the table. We may look into some areas like Hyderabad because we can see the potential opportunity and of course Bombay, but our real focus right now is to work on our Bengaluru office.” The company has raised over $400 million from an all-star cast of investors, including – Softbank Vision Fund 2, Sequoia Capital, Accel, GV (formerly Google Ventures), General Catalyst, Jay-Z's Roc Nation, and the investment vehicles of stars Will Smith and Robert Downey Jr. It will use the latest fund raise to grow and expand its business in India. The company claims that it issued $13 billion in life insurance coverage last year and was valued at $2.7 billion in 2021 and overall revenue and users grew by more than 600% year-over-year in 2021. Ethos has its offices in Austin, San Francisco, Seattle, and Singapore. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/with-an-eye-on-ipl-mukesh-ambani-boosts-his-war-chest-with-a-13500-crore-investment-from-murdoch/articleshow/91141584.cms">With an eye on IPL, Mukesh Ambani boosts his war chest with a ₹13,500 crore investment from Murdoch</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/ola-may-be-rushing-into-electric-cars-when-scooters-continue-to-underperform/articleshow/91141264.cms">Is Ola hurrying into its electric car dream?</a>

You Searched For "ola electric hiring" and got 7 results

Laying off 200 engineers to 'centralise' operations, clarifies Ola

IANS

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

IANS

Bengaluru, Mumbai sunshine locations for hiring in Q4: Teamlease report

Sourabh Jain

Hiring now! Walmart, Dream11, Ola and Icertis – and they need both full-time staff as well as interns

Sanchita Dash

Ola’s investors back its electric company – Ola Electric – welcome it to the unicorn club

Sanchita Dash

Ola offers internships and a prize money of ₹3 lakhs to winners of its campus challenge

Sanchita Dash

US-based life insurance provider Ethos to set up its office in Bengaluru and hire 150 people in India

Vaamanaa Sethi

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