Another senior Ola executive quits amid several resignations

New Delhi, July 8

Shikharr Sood, the head of Ola's Talent Acquisition, and in charge of talent acquisition for the entire Ola Group, is now reportedly the latest executive to leave the firm.

His resignation comes amid several resignations by top executives.

Several former executives said that product complaints, unit closures, and 'act fast, think later' culture has led to recent Ola troubles, CNBC reported, adding that the company is yet to respond to the query on Sood's resignation.

Meanwhile, a recent media report also said that the ride-hailing platform Ola is planning to lay off up to 500 employees across departments as it aims to cut costs and streamline operations amid the ongoing funding winter.

Meanwhile, a recent report said that the ride-hailing platform Ola is planning to lay off up to 500 employees across departments as it aims to cut costs and streamline operations amid the ongoing funding winter.

According to reliable sources, SoftBank-backed Ola has asked senior executives to find employees in their teams on a performance basis who can be asked to go.

The company is reportedly looking at "leaner and consolidated teams" to keep its "strong profitability intact". Ola, which has delayed its IPO plans, has also reportedly shopped its global investment plans to further expand overseas.

The company currently has nearly 1,100 employees in its core ride-hailing business and directly competes with Uber.

Last month, Ola shut down its used vehicle business Ola Cars as well as Ola Dash, its quick-commerce business.

The company shut Ola Cars within one year of its launch, as it focuses on its electric two-wheeler and electric car verticals. Ola has so far shut down Ola Cafe, food panda, Ola Foods, and now Ola Dash.

Meanwhile, Ola Electric, facing a government probe into battery fires along with other EV players, has also seen some high-profile exits in recent months.