SoftBank-backed Ola targets IPO process by March-end 2021, cut staff by up to 5% - sources
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BENGALURU (Reuters) - Indian ride-hailing firm Ola, backed by Japan's SoftBank Group Corp , aims to begin the IPO process by the end of March 2021 and plans to cut its workforce by up to 5% as part of preparations, said people with direct knowledge of the matter.The news comes as tech investor SoftBank smarts from the abandoned share sale of major portfolio firm WeWork, as well as its first quarterly loss in 14 years after an $8.9 billion hit to its Vision Fund, through which it is Ola's top..