SoftBank-backed Ola to cut 200 jobs in India

SoftBank-backed Ola plans to eliminate about 200 jobs across its engineering teams over the next few days, on track to shrink its workforce by over 1,200 this year, as the ride-hailing giant streamlines its operations to improve finances.
The company has kickstarted the new wave of layoffs, which affects the engineering teams at its food and ride-hailing businesses. An Ola spokesperson said the layoff impacts fewer than 200 jobs, accounting for 10% of the company’s engineering team.
The Bengaluru-headquartered startup, valued at over $7 billion and backed by Temasek and Warburg Pincus, h

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