Ahead of IPO, Ola plans realignment of various businesses to cut costs

Ride-hailing major Ola is undertaking a major realignment of its various businesses, as the company looks at containing costs and become profitable before hitting the public market in FY21. According to sources in the know, this exercise would result in reduction of its workforce by around 300 people, which is roughly 5-8 per cent of its overall headcount. 

“The plan is to go for initial public offering (IPO) in the next 12-18 months, and the process for that is expected to start towards the end of FY21. The company is of firm believe that the core mobility (cab-hailing) business would