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 busine 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 Cars within a year of its launch as it shifted focus to its electric two-wheeler and car verticals. Ola has, so far, shut down Ola Cafe, Food Panda, Ola Foods, and Ola Dash.
Diese Geschichte stammt aus der July 06, 2022-Ausgabe von Business Standard.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der July 06, 2022-Ausgabe von Business Standard.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
T20 WORLD CUP: NETHERLANDS BEAT NEPAL BY 6 WICKETS
The Netherlands beat Nepal by six wickets with eight balls to spare in a tight contest that was delayed by rain at the Grand Prairie Stadium, Dallas, Texas, on Tuesday night.
QS Rankings: IIT Bombay, IIT Delhi in top 150
The Indian Institutes of Technology (IITs) Bombay and Delhi are among the top 150 universities in the world, while the Massachusetts Institute of Technology (MIT) retained the top rank globally for the 13th time, according to the QS World University Ranking, 2025 announced on Wednesday.
Delhi reports 3rd hospital fire incident in 2 weeks
A major fire incident took place in an eye hospital based in Southeast Delhi's Lajpat Nagar on Wednesday, marking the third instance of hospital fire in the national capital in two weeks.
'Food processing industry should focus on quality'
A mid growing scrutiny of processed food in the country, a senior official at the Ministry of Food Processing Industries on Wednesday asked that industry to take a cue from international standards even if they have to \"compromise a little\" on profit margins.
United Spirits may lose fizz on near-term woes
Long-term prospects promising, but there are no immediate triggers
VOLATILE DURING POLL RESULTS, LUCRATIVE 6 MONTHS LATER
As is the case now, equity markets always tend to be highly volatile around the time of election results.
Kronox Lab IPO subscribed 117.25x on last day
The initial public offering (IPO) of Kronox Lab Sciences garnered 117.25 times subscription on the closing day of bidding on Wednesday.
Policy, valuations could keep rural stocks in play
Most brokerages are betting that the new government will shift to a policy focusing on boosting rural incomes and consumption since that has clearly been a pain point.
Regulator mulls raising limit for basic-service demat account to ₹10 lakh
Markets regulator Securities and Exchange Board of India (Sebi) on Wednesday proposed to enhance the threshold for the basic service demat account (BSDA) to 10 lakh from the current ₹2 lakh in a bid to boost the participation of retail investors in the securities market.
Sebi eases timelines for FPIs to disclose material changes
The Securities and Exchange Board of India (Sebi) has relaxed the timeline for foreign portfolio investors (FPIs) for reporting and disclosing material changes.
