Ola likely to lay off nearly 1,000 employees to ramp up EV plans: Reports

As Bhavish Aggarwal-owned Ola is aiming to ramp up its electric vehicle business, the ride-hailing platform is now planning to lay off around 1,000 employees.

Media reports say that verticals like mobility, hyperlocal, fintech, and its used car operations have all been included in the process.

Recently, a report said that Ola is laying off up to 500 employees across departments as it aimed to cut costs amid a challenging funding environment and a delay in listing plans.

Senior executives at the SoftBank-backed company were reportedly tasked with identifying team members who can be asked to leave based on performance.