OLA company to lay off 1000 employees; focus on electric vehicle sector

Cab service provider Ola has started laying off its employees. On one hand, Ola is recruiting for the electric manufacturing business, on the other hand, the process of laying off nearly 1,000 employees has started. From July 6, the company has started evaluating the work of the employees. It was said that around 400-500 employees may be cut but according to sources this number may go up to 1 thousand. This process will continue for a few weeks. The company is focused on electric mobility. Where they are recruiting employees. The company has asked the employees whose performance has been poor to resign. Appraisal given to employees on year's work has also been avoided this year. This means that the employees who are to be hired will not get a salary increase this year. Not only this, Ola has also decided to shut down other companies including used car sales.

Ola has decided to focus on the electric vehicle segment. Due to this, the company has closed other industries. Last month, the company closed the used car business. Importantly, 300 centers were to be opened in 100 cities across the country. Through this, 10 thousand jobs were to be provided. Along with this, the quick commerce business Ola Dash is also going to shut down. In 2015, Ola Cafes were closed during the year. After this, the company also launched Ola Foods, but that too could not take off.

The company said on July 18 that it is investing around $500 million in its upcoming cell battery cell research and development facility in Bengaluru, which will begin operations in August and employ more than 500 engineers and PhD holders. India's first indigenously developed lithium-ion battery cell named 2170 has been developed. They have signed an agreement of 18 thousand crores with the Ministry of Heavy Industries of the government to manufacture batteries.