Ola Electric, India's top electric two-wheeler maker by sales, said on Monday it is eliminating some roles due to restructuring and automation, with Bloomberg News pinning the number at over 1,000, amid the company's push for profitability.

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 job cuts will affect multiple departments, including procurement, fulfilment, customer relations and charging infrastructure

Ola Electric Mobility is laying off over a thousand employees and contract workers, Bloomberg News reported on Monday, citing people familiar with the matter.

This is the second round of layoffs at Ola Electric after the EV maker let go of about 500 employees in November last year.

Shares of Ola Electric Mobility tanked over 5% to hit a fresh all-time low amid reports that the company is planning to cut over 1,000 jobs.

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

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

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

New Delhi, Mar 3 (PTI) Ola Electric Mobility is cutting around 1,000 jobs across different functions as part of a restructuring exercise to reduce losses, according to people aware of the development.

Ola Electric is cutting around 1,000 jobs as part of a restructuring exercise to reduce losses. This follows a previous round of job cuts in 2024.