Vipin Sondhi appointed as new CEO and MD of Ashok Leyland. Ola reportedly lays off 500 employees to cut down losses.
On the Job: On Thursday, Ashok Leyland appointed Vipin Sondhi as its CEO and MD. Sondhi will head the automobile company for five years, with his term ending on 11 December 2024. The announcement comes after the resignation of former CEO Vinod Dasari in November 2018. More details here.
Ashok Leyland’s shares price rose 3.69% by close of bell on the news.
Your Ride has Ended: Ride-hailing service provider Ola has reportedly laid off 500 employees from its workforce to cut down losses. It could also be in the process to lay off up to 1,000 employees in the next six months. An Ola spokesperson said 5-7% of its workforce would be impacted. ET Auto
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