Ola Electric Planning To Lay Off Over 1,000 Employees, Says Report

The Bengaluru-based electric vehicle (EV) manufacturer will reportedly slash jobs across departments such as fulfillment, procurement, customer relations, and charging infrastructure.

However, no official confirmation has been shared by Ola Electric on the matter.

Source : Ola Electric

Ola Electric is reportedly planning to lay off more than 1,000 employees, media reports said. The Bengaluru-based electric vehicle (EV) manufacturer will slash jobs across departments such as fulfillment, procurement, customer relations, and charging infrastructure, Bloomberg reported.

However, no official confirmation has been shared by Ola Electric on the matter. The layoffs will include payroll employees and contract workers as well.

These layoffs are expected to impact more than a quarter of the company’s workforce, with the company employing around 4,000 employees as of March 2024.

Reports Claimed Layoffs Happened In Nov Also

This isn’t the first time the company is planning to conduct mass layoffs. Earlier in November, reports claimed that the company fired 500 employees. Recently, Ola Electric also reported a 50 per cent jump in its losses for the December quarter. 

The firm also went public and made its debut in the stock market last year. Since its IPO debut in August 2024, the company has seen a plunge of more than 60 per cent in the share market. This decline has been attributed to several factors such as reports of the company’s scooters catching fire, consumers filing complaints, and backlash on social media for poor service quality.

As part of the restructuring, Ola is planning to automate aspects of the customer relations operations, the report said. The layoff plans might be adjusted over time based on the requirements of the business.

Notably, Ola Electric reported sales of more than 25,000 units in February, controlling a market share of 28 per cent, significantly lower than the monthly target of 50,000 units set by CEO Bhavish Aggarwal during an earnings call this year. 

Last year, the EV maker also launched its first electric motorcycle, the Roadster X, beginning from Rs 74,999, ex-showroom. The deliveries for the vehicle will commence from March.