Ola Shuts Down Taxi For Sure, 700 to be Laid Off

The cab hailing company is said to have absorbed many of the TFS employees and drivers.

Ola has decided to shut down the TaxiForSure (TFS) business, about 18 months after acquiring the rival for USD 200 million. The development is expected to result in slashing of at least 700 jobs, which includes employees in support services and business development, according to sources.

Prior to buying out, both Ola and TFS shared a few quirky exchanges via Twitter.

The buyout finally happened in March last year, when Ola bought TaxiForSure to consolidate its position in the country’s cab-hailing market and widen lead over Uber.

Ola is entangled in an intense battle with Uber for leadership in the Indian market that has grown manifold for both the players. It has been a while since Taxi for Sure (TFS) fleet was available, especially after it was integrated into the Ola app.

The competition is expected to intensify further in the coming months as Uber expands its focus on the Indian market after selling off its China operations to Didi Chuxing. What adds further interest to this development is that Didi is a minority investor in Ola and also shares a common investor in SoftBank.

Also Read:
Chinese Taxi Giant Didi Chuxing Set to Buy Uber’s China Business

The 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. With all TFS driver-partners and customers coming on board the Ola app, the integration is now complete.

Ola Statement

While Ola declined to comment on the number of employees being laid off, it said it has absorbed “as many TFS employees for open roles in Ola to support our growth.”

“For positions that cease to exist as a result of this transition, we are offering enhanced severance benefits and outplacement services to help affected employees pursue new career opportunities,” it added.