Under pressure Ola Electric is laying off 500 to up profitability
People aware of the ongoing downsizing drive within Ola Electric said the company has cut 300-400 jobs, or under 10% of the workforce, over the past few months. The numbers would go up and as many as 500 employees may be impacted as the process is still ongoing, according to one of the people.
«There is an emphasis on profitability and workforce optimisation is in line with that goal,» said a person close to the company.
Ola Electric did not respond to a request for comment.
Two people in the know of the development said the downsize drive was in the plan for months and set in motion recently. According to one of them, the planned layoff may result in a significant reduction of the workforce strength. Ola has around 4,000 employees on rolls.
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