More than 1,000 people will be fired from ola Electric!
Electric scooter maker ola is going to lay off employees once again. This time around 1,000 people will be laid off from the company. According to the report, earlier in november 2024, about 500 employees were laid off. While this time without commenting on the layoffs, the company simply indicated that it is the result of reorganizing and automating front-end operations.
Layoffs for the second time within 5 months
According to The Telegraph report, a spokesperson for ola Electric Mobility said, "We have reorganized and automated our front-end operations, which has improved margins, reduced costs and given better customer experience. While non-essential roles have been eliminated for better productivity.'' The second round of layoffs in the company within five months is going to start at a time when ola Electric has taken strategic steps to increase EBITDA (earnings before interest, tax, depreciation and amortization) margins by about 10%, as well as improve inventory management and convenience provided to customers.
The company suffered a loss of so many crores
In the third quarter ended december 31, 2024, the company had a loss of Rs 564 crore, while in the same quarter last year the company had suffered a loss of Rs 376 crore. In the third quarter, the company's operating income stood at Rs 1,045 crore, while in the same quarter last year it was Rs 1,296 crore. Let us tell you that the investigation was ordered after receiving 10,644 complaints against ola Electric in the National Consumer Helpline (CCPA) between July 2023 and august 2024. The company says that it has resolved 99.1 percent of the complaints.
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