Ola Electric restructures, laying off 500 jobs across departments

Ola Electric Mobility is laying off 500 jobs across multiple departments and levels as part of a restructuring effort aimed at improving margins and enhancing profitability, according to sources familiar with the development.

This move, aimed at optimizing its workforce, is part of the company’s broader strategy to enhance profitability, according to sources familiar with the matter.

The workforce reduction began during the July-September quarter and has been implemented progressively.

"The process started around July and has been a gradual exercise to identify and remove redundant roles across different departments," revealed a source. The restructuring is expected to conclude by the end of this month.

Ola Electric’s decision to streamline its operations comes as part of its efforts to improve operational margins and strengthen its financial performance.

The company is actively realigning its resources to focus on core priorities, said a source aware of the company's plans.

This restructuring follows heightened scrutiny of Ola Electric's after-sales service quality. Earlier this month, the Central Consumer Protection Authority (CCPA) ordered a detailed investigation into complaints of alleged deficiencies in Ola Electric’s services and the performance of its electric two-wheelers.

In response to the regulatory action, Ola Electric disclosed that it had addressed 99.1% of the 10,644 complaints lodged with the CCPA as of last month.