Ola Electric To Cut 500 Jobs Due To Losses: Report

Ola Electric, facing a government probe and mounting losses, plans to lay off 500 employees in a restructuring effort to improve operational efficiency and profitability. The company reported a 43% rise in net loss for Q2 FY25, at ₹495 crore, with revenue dropping 26%. CEO Bhavish Aggarwal emphasized focusing on cost efficiency, while the company’s market share fell to 33% from 49%.