The layoffs would have constituted 10% of the company’s engineering workforce.
Ride-hailing company Ola has decided to not layoff the 200 engineers the company was earlier planning to let go, according to sources in the know. In September reports emerged about these 200 engineers being fired across its ride-hailing and fintech businesses in a fresh round of layoffs.
Employees were informed about the change in the plan at a townhall meeting helmed by some of the company’s senior tech leaders.
Also read: Ola Electric to foray into international markets starting with Nepal
The layoffs would have constituted 10% of the company’s engineering workforce. The Bengaluru-based firm said at the time that it increase its engineering headcount to more than 5,000 in the next 18 months as it doubles down on cell manufacturing, a four wheeler project, and other efforts related to EVs and mobility.
Ola is yet to respond to queries sent by ET.
Newspaper Deccan Herald was the first to break the story about the company’s latest decision.
Ola had already laid off over 1,000 employees as the company shut multiple other businesses like used car marketplace, food and grocery delivery. The uncertainty within the firm comes at a time when late stage startups are struggling to raise amid global macroeconomic headwinds.