Ola Electric cutting 1000 jobs; company spokesperson says restructuring
Ola Electric plans to lay off over 1,000 employees to address financial losses. Affected departments include procurement, customer relations, and charging infrastructure. This follows a previous reduction of around 500 employees in November 2024. The company reported a significant net loss for the December quarter, and its stock has plunged over 60% since its IPO debut in August 2024.
Ola Electric plans to lay off over 1,000 employees to address financial losses. Affected departments include procurement, customer relations, and charging infrastructure. This follows a previous reduction of around 500 employees in November 2024. The company reported a significant net loss for the December quarter, and its stock has plunged over 60% since its IPO debut in August 2024.
