Ola Electric has laid off more than 1,000 employees and contract workers as the company looks to curb rising losses, Bloomberg reported. The cuts impact several departments, including procurement, fulfillment,

Ola Electric Mobility Ltd. is laying off over a thousand employees and contract workers, people familiar with the matter said, as one of India’s top scooter-makers races to pare ballooning losses.

The most recent round of layoffs comes just months after Ola Electric, led by Bhavish Aggarwal, made 300-400 employees redundant—less than 10% of its workforce—citing a stronger emphasis on profitability.

Ola Electric recently launched its first electric motorcycle — Roadster X — at a starting price of Rs 74,999 (ex-showroom).

SoftBank-backed Ola Electric has laid off over 1,000 employees as part of a restructuring move to cut costs and improve margins, even as it struggles with mounting losses and rising competition

Ola Electric Mobility Ltd is looking to axe more than 1,000 jobs as the EV maker plans to cut down its losses, according to a report by Bloomberg. The job cuts are expected to be across multiple departments, including procurement, fulfilment, customer relations and charging infrastructure, the news report said.

Ola Electric Mobility's shares dropped over 5% amid news of over a thousand layoffs. Having fallen 66% since debuting last year, the company faces restructuring challenges. Reports attribute layoffs to automation advances.

This move marks the second round of workforce reductions in less than five months, following the company’s decision to let go of 500 employees in November.

The job cuts at Ola Electric may happen at multiple departments such as procurement, fulfillment, customer relations and charging infrastructure.

Ola Electric Mobility, India's top electric two-wheeler maker by sales, is laying off more than 1,000 employees and contract workers as it seeks to prioritise profitability, Bloomberg News reported on Monday,

This is the second round of layoffs in less than five months. In November, the company had laid off around 500 employees.