Ola may lay off 1,000 employees to ramp up EV plans

As Bhavish Aggarwal-led Ola aims to ramp up its electric vehicle (EV) business, media reports have claimed that the ride-hailing platform is laying off around 1,000 employees from across verticals.

According to reports citing employee records, verticals like mobility, hyperlocal, fintech, and Ola’s used car operations have included in the layoff process.

However, according to sources close to the company, these layoffs may impact less than 500 employees and not 1,000, and “are a result of restructuring in the Cars and Dash businesses”.

The company currently has nearly 1,100 employees in its core ride-hailing business.