Ola cuts staff in profit push as Rapido swerves into its lane

The total number of salaried employees fell 57% to 376 in August from 886 in April 2024:

- Ayaan Kartik

Ola's parent company ANI Technologies Pvt. Ltd has seen its staff size cut by more than half since April last year even as it struggles to hold its ground against ride-hailing rivals Uber and Rapido.

The total number of salaried employees at ANI Technologies fell 57% to 376 in August from 886 in April 2024, as per the company’s data with the Employee Provident Fund Organisation (EPFO).

Three people aware of the developments at Ola Cabs, which was rechristened Ola Consumer last year, attributed the downsizing to the company’s push for profitability.

“There was significant downsizing at the firm in the last one-and-a-half years as the company is looking to reduce its cash burn,” one of them said, declining to be identified, as did the other two. “It was a combination of roles not being filled, automation, and elimination of some positions.”

ANI Technologies also houses Ola Group’s financial services, cloud kitchen and electric logistics businesses.

While the company has not yet reported its financials for FY25, its losses had narrowed down to ₹328 crore in the previous fiscal year from ₹772 crore in the year prior even as revenue declined 5% to ₹2,011 crore.