Ola Electric Layoffs: Bhavish Aggarwal’s EV Firm To Cut 1,000 Jobs as Part of Restructuring Amid Losses, Say Reports

Bengaluru, March 3: Ola Electric will reportedly lay off 1,000 employees due to internal restructuring. The Bhavish Aggarwal-led EV firm will reduce its headcount amid the business challenges. The Ola Electric layoffs will be aimed at helping the company control the mounting losses. With the latest round of job cuts, the Bengaluru-based EV firm will focus on the profitability while optimising its operations.

The reports said that the Ola Electric, India’s leading electric scooter maker, had been struggling to keep up its employees. As per reports, the company had to witness the departure of people like Anshul Khandelwal and Suvonil Chatterjee. Both of these people were top-level executives working as Chief Marketing Officer and Chief Technology and Product Officer, respectively.

Ola Electric had been struggling with its financial performance. The EV firm witnessed 19.4% decline in revenue to iNR 1,045 crore and the losses also increased to 50% to INR 564 crore during Q3 FY25 (December 2024).

(The above story first appeared on LatestLY on Mar 03, 2025 01:22 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website todaynews24.top).