365Telugu.com online news,New Delhi,March 3rd,2025: Ola Electric Mobility is set to lay off more than 1,000 employees and contract workers in its second round of job cuts in just a few months.
The move comes as the company, backed by SoftBank Group Corporation, aims to curb mounting losses. According to reports, the layoffs are affecting multiple departments, including procurement, fulfilment, customer relations, and charging infrastructure.
Read this also... A Grand Celebration of Telugu Cinema at Red Lorry Film Festival: Parallel Verse in Hyderabad
ఇది కూడా చదవండి…హైదరాబాద్లో లగ్జరీ ఇంటీరియర్ డిజైన్కు నూతన ఒరవడి – ది చార్కోల్ ప్రాజెక్ట్ కొత్త గ్యాలరీ గ్రాండ్ ఓపెనింగ్
Read this also...The Charcoal Project Expands to Hyderabad with a Luxurious New Retail Gallery
This marks the second significant downsizing by Ola Electric in less than five months. In November, the company had laid off approximately 500 employees.
With the latest job cuts, over a quarter of Ola’s workforce-previously standing at 4,000 as of March 2024-has been impacted. The layoffs also include contract workers who are not reflected in the company’s official employee disclosures.
As part of a broader restructuring effort, Ola Electric is automating parts of its customer relations operations. The company is also reducing front-end sales, service, and warehouse staff at its showrooms and service centres as it refines its logistics and delivery strategies to optimize costs.
The final layoff numbers could change based on business needs, and the company has yet to issue an official statement on the matter.
Ola Electric, which went public in August 2023, has encountered several challenges, including a 50% rise in losses during the December quarter (Q3) and increased scrutiny from India’s market regulator and consumer protection bodies. The company’s stock has plummeted by over 60% since its IPO debut.
Read this also...India vs New Zealand: ICC Champions Trophy 2025 Group A Clash – Live Updates & Scorecard
ఇది కూడా చదవండి…అమెరికాలో అధికారిక భాషగా ఆంగ్లాన్ని ప్రకటించిన ట్రంప్..
ఇది కూడా చదవండి…ఆరోగ్యరన్ – 2025: స్వస్థ తెలంగాణ కోసం దూసుకెళ్లిన రన్నర్స్
Despite these challenges, Ola Electric reported strong sales in February, selling over 25,000 electric scooters and securing a 28% market share. However, data from the government’s VAHAN portal indicates that only one in three scooters sold last month was officially registered.
The company has informed investors that its vehicle registrations in February were affected due to ongoing negotiations with two key vendors to lower costs and enhance operational efficiency.