To Maximize Profits, Ola Electric Plans Nearly 1500 Job Cuts

Ola Electric Mobility Ltd. has effected a second round of layoffs in less than six months to cut costs and turn profitable, at least on an operational level. About 1,400-1,500 employees have been let go, people aware of the development said on Monday. About half of them are contractual employees and technicians who were hired to run the 4,000 sales and service centres opened in December last year. The rest include those involved in the supply chain, customer care and charging infrastructure. The Ola Electric layoffs are a fallout of the expansion that hasn’t translated into sales, one of the persons cited above said. Several of its experience centres are not selling even one scooter every month, this person said. All of this is aimed at turning profitable, at least operationally, a second person said. #ola #olaelectric #ev For more videos subscribe to our channel:    / @ndtvprofitindia   Visit NDTV Profit for more news: https://www.ndtvprofit.com/ Don't enter the stock market unaware. Read all Research Reports here: https://www.ndtvprofit.com/research-r... Follow NDTV Profit here Twitter:   / ndtvprofitindia   ,   / ndtvprofit   LinkedIn:   / ndtvprofit   Instagram:   / ndtvprofit   Facebook:   / ndtvprofit