Ola Electric Announces 5% Workforce Layoffs Amidst Cost-Cutting Drive
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CNBC Awaaz•30-01-2026, 21:34
Ola Electric Announces 5% Workforce Layoffs Amidst Cost-Cutting Drive
- •Ola Electric will cut approximately 5% of its permanent workforce, affecting 150-175 employees, as part of a structural reset.
- •The layoffs aim to increase automation, improve front-end operational efficiency, and reduce fixed costs.
- •The company is grappling with significant losses; revenue fell 43% year-on-year to ₹690 crore in Q3 FY25, with a net loss of ₹418 crore.
- •This is Ola Electric's third round of layoffs, following previous reductions in November 2024 and March 2025.
- •Ola Electric's stock has fallen by about 40% from its recent peak due to weak results and market pressure.
Why It Matters: Ola Electric is laying off 5% of its staff to cut costs and focus on profitability amidst financial challenges.
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