Ola’s Senior Director of Talent Acquisition Resigns, Company Likely to Retrench Over 700 Employees – Report

Ola’s senior management exodus continued in the past few weeks with a third executive now resigning from the company in the last two weeks. Shikharr S Sood, Senior Director of Talent Acquisitions was the latest executive to leave the company which, since 2020, has seen over 30 top level management changes.

Sood joined the company in May of 2021 and has completed a little over a year in his position at the company. Prior to Ola, he worked with Thermo Fisher as Talent Acquisition Leader. Sood also has prior experience in the field with Novartis and General Electric. Sood’s exit follows closely after, Yashwant Kumar’s from the company. Kumar was Senior Director of Charging at Ola Electric Mobility and was reported to have resigned just last week. Ola Electric’s Director of Human Resources, Ranjit Kondeshan also parted ways with the company in recent weeks.

As per a report, the Ola is also expected to make workforce changes across its business in a bid to improve cash flows as well as the result of closing down its Ola Dash and Ola Cars verticals. The report cited that the company could let go over 700 people in the coming days with Ola’s food business also expected to be scaled down.

Earlier this year Ola said that it would be shifting its focus to its Ola Electric vertical with the company eyeing an expansion into the four-wheeler business. The carmaker had hinted at an electric car as early as last year fresh off the launch of its electric scooter. More recently the company teased multiple electric car concepts at a customer event at its factory with company to announce more details next month.

The firm is also eyeing new ground for a second factory that will be the production hub for its electric cars.

Source: ET Auto