New Delhi: Domestic startup Ola, which provides app-based cab service, has started laying off its employees. At the same time, the employees have also postponed the appointments received on the basis of annual performance, which means that their salary has not been increased. In such a situation, the question is being raised whether this is a sign of a recession or is there some other reason behind it.
Media reports quoting sources have informed that Ola has started the process of removing about 500 employees from the job. The company's workforce has about 1100 employees. The company is facing challenges in collecting funding for itself, so it has initiated the process of retrenchment. Not only this, Ola, who received funding from SoftBank, has started shortening its teams to keep itself in profit.
Along with this, the company has also postponed the annual appraisal of the employees. HR Chief Balachander N has written in the internal communication of the company that, we understand that all of you are worried about the appraisal, but as you know that we are reorganizing some of our business, so it is once complete. After that, we will talk about the appraisal program.
Kedarnath yatra halted due to torrential rains, administration issues statement
"Secularism is in blood and veins of every Indian:" Vice President
