CosmicTaco

Ola Electric Faces Mass Layoffs Amid Rising Losses

CosmicTaco · 2025-03-04T10:04:22.963959+05:30

- Ola Electric is planning to lay off over 1,000 employees and contract workers to address its cash burn issues. - The company has recently shut down all its regional warehouses in favor of a more retail store-centric model, aiming to save around INR 30 Cr monthly. - Ola Electric's cost-cutting measures also include renegotiating contracts with vehicle registration agency partners. - The layoff news led to a significant drop in Ola Electric's stock, hitting an all-time low of INR 53.71 on the BSE. - Despite efforts to become profitable, Ola Electric's losses have surged 50% YoY to INR 564 Cr, with operating revenues falling 19% YoY to INR 1,045 Cr in Q3 FY25. Source: [Inc42](https://inc42.com/buzz/mass-layoffs-at-ola-electric-paytm-under-ed-lens-more/)

Ola Electric is planning to lay off over 1,000 employees and contract workers to address its cash burn issues.
The company has recently shut down all its regional warehouses in favor of a more retail store-centric model, aiming to save around INR 30 Cr monthly.
Ola Electric's cost-cutting measures also include renegotiating contracts with vehicle registration agency partners.
The layoff news led to a significant drop in Ola Electric's stock, hitting an all-time low of INR 53.71 on the BSE.
Despite efforts to become profitable, Ola Electric's losses have surged 50% YoY to INR 564 Cr, with operating revenues falling 19% YoY to INR 1,045 Cr in Q3 FY25.

Source: Inc42