Ola has shut down TaxiForSure (TFS) leading to the layoffs of around 700 employees, reports said on August 17.
Some reports however state that the number of jobs lost could be around 1000 but according to one report Ola claims that only 300 jobs have been affected.
“The TaxiForSure (TFS) value proposition as an economy brand for customers has been seamlessly integrated onto the Ola platform with the launch and rapid adoption of Ola Micro,” Ola said in a statement according to ANI.
Ola’s aim was to integrate its fleet.
An Ola Micro cab. Hemant Mishra/Mint
According to reports, Ola says that with “all TFS driver-partners and customers coming on board the Ola app, the integration is now complete”.
Acknowledging that TFS has contributed to the growth and success of Ola Micro, the SoftBank-backed cab service said that it is offering “enhanced severance benefits and outplacement services” to employees who have been laid off, while asserting that it has absorbed as many employees as it could.
Yet in the expanding India market, Uber and Ola are locked in an intense battle for dominance. In fact Ola buying TFS was to gain an upper hand over Uber.
Now with Uber and Didi coming together, the dynamics of the game is set to change.