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Ola Electric set to let go of 500 employees
Mint Mumbai
|November 22, 2024
Electric two-wheeler maker Ola Electric is set to let go of nearly 500 employees across teams as part of a restructuring exercise to improve margins and profitability prospects, a person in the know of the matter told Mint.
The Bhavish Aggarwal-led company did not immediately respond to Mint's request for a comment.
The development comes months after Ola Electric's sister company Ola Consumer, formerly Ola Cabs, announced a restructuring exercise in April that would impact about 10% of its staff. Its CEO Hemant Bakshi also stepped down less than a year after joining the IPO-bound company. Its CFO Karthik Gupta also quit as a part of the exercise that impacted about 200 employees.
Dit verhaal komt uit de November 22, 2024-editie van Mint Mumbai.
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