Ola Electric begins restructuring plans with 2,000-person hiring spree

Bhavish Aggarwal, co-founder and CEO of Ola Electric parent Ola Cabs, said in an internal email to employees the company plans to hire 1,000 engineers worldwide over the next three months, plus another 1,000 people for other positions.

The head chief also said his team is looking to launch Ola Electric’s first product – an electric scooter – soon.

“We will be starting an organizational restructuring,” Aggarwal wrote in the email. The move comes nearly three months after Ola Cabs said it would be laying off about 1,400 employees after seeing a 95% drop in revenue from February through May.

“This will involve changes in our organization structure to make it more streamlined with clear KRAs, KPIs, and reporting lines, integrate our Etergo colleagues into a single global engineering organization, and enable more systematic and structured cross-functional work across the life cycle of product development,” Aggarwal added.

Ola acquired electric scooter startup Etergo earlier this year, which gave it access to the Amsterdam-based company’s battery-swapping tech.