Ola Electric Cuts 500 Jobs Across Verticals

Ola Electric Job Cut: Ola Electric Mobility is cutting 500 jobs across  verticals and levels as part of a restructuring exercise, according to people aware of the development.

The company, which has come under the scanner for its poor aftersales service recently, had started the job cut in the September quarter.

"It has been going on for some time now, starting around July. It has been a gradual process of removing redundant roles across verticals and levels," said a source.

The exercise is expected to be completed by the end of this month.

Ola Electric is looking to optimise workforce with an aim to improving margins and enhance profitability, the person added.

Earlier this month, Central Consumer Protection Authority (CCPA) had ordered a detailed probe into complaints related to alleged "deficiencies" in services and electric two-wheelers manufactured by Ola Electric.

Last month, the company had said that out of 10,644 complaints received from CCPA, it has resolved 99.1 per cent of the complaints.

This development comes shortly after the company was probed by CCPA. The Central Consumer Protection Authority  (CCPA) had issued a show cause notice to Ola Electric and cited the misleading advertisements, violation of consumer rights, and unfair trade practices. It reflected a widespread dissatisfaction with the electric scooter's service quality.

After the review of the responses, the CCPA asked the Bureau of Indian Standards (BIS) to conduct a detailed investigation into the matter. In October, Ola Electric recorded sales of 41,651 units and was in the first position on the sales chart of electric vehicles. Ola Electric had registered a growth of 74.33 per cent on a year-on-year basis and a growth of 68.77 per cent on a month-on-month basis. The company recorded a market share of 30 per cent in October 2024. Ola Electric currently offers electric scooters and motorcycles in its portfolio.