https://layoffcheck.com/companies/ola-electric Layoff and WARN notices reported for Ola Electric. en-us https://layoffcheck.com/companies/ola-electric#2025-03 https://layoffcheck.com/companies/ola-electric#2025-03-418 Mon, 03 Mar 2025 12:00:00 GMT Ola Electric cut over 1,000 employees and contract workers in early March 2025, a second round of reductions in less than five months after 500 jobs were eliminated in November 2024. The affected roles spanned procurement, fulfillment, customer relations, and charging infrastructure. Losses at the Bengaluru-based electric scooter maker had surged 50% year-over-year in Q3 FY25 to INR 564 crore, while operating revenue fell 19% annually and 14% sequentially to INR 1,045 crore. The company's stock had dropped more than 63% from its 52-week high, and its market cap had slipped from roughly $4 billion at IPO to around $2.9 billion. In a statement, Ola Electric said it had "restructured and automated front-end operations delivering improved margins, reduced cost, and enhanced customer experience while eliminating redundant roles for better productivity." The cuts came as the company faced buyer complaints, social media backlash, and intensifying competition in the electric two-wheeler segment. https://layoffcheck.com/companies/ola-electric#2024-11 https://layoffcheck.com/companies/ola-electric#2024-11-538 Fri, 22 Nov 2024 12:00:00 GMT Ola Electric cut around 500 workers in November 2024 as part of a broad cost-reduction effort, targeting roles across procurement, fulfillment, customer relations, charging infrastructure, showrooms, service centers, and warehouse operations. The Indian EV maker had been struggling: monthly sales of roughly 25,000 units were well below the 50,000-unit break-even threshold, and losses grew 50% in the December quarter. The company said it had "restructured and automated our front-end operations, improving margins, cutting costs, and enhancing customer experience while eliminating redundant roles." Ola had also lost its market leadership position to rivals Bajaj Auto and TVS Motor by this point, while fielding about 80,000 customer complaints per month. The November cuts were the first of two major rounds: a second, larger reduction of over 1,000 workers followed within five months. No severance details were disclosed.