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Ola Electric to cut over 1,000 jobs

Ola Electric is laying off over 1,000 employees across various departments to address rising losses and enhance operational efficiency, according to sources familiar with the matter.

The layoffs include teams from procurement, fulfillment, customer relations, and charging infrastructure.

This latest round of cuts follows a previous layoff in November 2024, which resulted in around 500 dismissals.

In response to inquiries, an Ola spokesperson said that the company is restructuring and automating customer-facing operations to improve productivity and reduce costs.

Recent Ola Electric developments

Timeline
28-Feb-2025 📦 Ola Electric shuts down warehouses to cut costs
  • Ola Electric closes all regional warehouses.
  • Savings of 30 crore rupees expected monthly.
11-Feb-2025 📉 Ola Electric shares drop 4% as Q3 loss widens
  • Ola Electric shares drop 4% to 67.80 rupees.
  • Q3 net loss rises to 564 crore rupees; revenue declines.
01-Feb-2025 ⚡ Ola Electric shares rise after Gen 3 scooter launch
  • Ola Electric shares rise 14.43% to ₹76.50
  • New Gen 3 scooters launch with improved features
10-Jan-2025 📉 Ola Electric shares dip amid sell-off, regulatory issues
  • Ola Electric shares fell nearly 5% to ₹75.81
  • Market cap dropped to ₹33,597 crore amid market decline
28-Dec-2024 🔧 Ola Electric execs resign amid rising consumer complaints
  • Ola Electric sees resignation of key executives.
  • Concerns over after-sales service amid consumer complaints.

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