• SENSEX
    NIFTY 50
Business

SoftBank-backed Ola halves losses, lays off 200 before IPO

Updated : November 29, 2019 03:48 PM IST

Ola is set to lay off 200 people of its total base of 4,500 employees and will move 150 employees to newer verticals of Ola Electric Mobility and Ola Financial Services.
Bhavish Aggarwal-led company is preparing for an IPO in the next 18-24 months and is looking to reach profitability soon.
The company has halved its losses in FY19 to Rs 1160 crore from Rs 2,676 crore the previous fiscal.
SoftBank-backed Ola halves losses, lays off 200 before IPO
primo org
Have you signed up for Primo, our daily newsletter?
It has all the stories and data on the market, business, economy and tech that you need to know.
cnbc two logos
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more

You May Also Like

Live TV