{"id":1287766,"date":"2024-11-26T11:27:46","date_gmt":"2024-11-26T05:57:46","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1287766"},"modified":"2024-11-26T11:28:20","modified_gmt":"2024-11-26T05:58:20","slug":"ola-electric-firing-100-employees-every-friday-since-last-60-days","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/ola-electric-firing-100-employees-every-friday-since-last-60-days\/","title":{"rendered":"Ola Electric Firing 100 Employees Every Friday Since Last 60 Days"},"content":{"rendered":"\n<p><br>In an attempt to shore up profitability, Ola Electric Mobility Ltd. has laid off 100 employees every week since its service-related woes came to the fore nearly two months ago, said the people aware of the development.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"465\" src=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2024\/11\/Untitled-design-1-7-1.png\" alt=\"Ola Electric Firing 100 Employees Every Friday Since Last 60 Days\" class=\"wp-image-1287773\" srcset=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2024\/11\/Untitled-design-1-7-1.png 1000w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2024\/11\/Untitled-design-1-7-1-300x140.png 300w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2024\/11\/Untitled-design-1-7-1-768x357.png 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/figure>\n\n\n\n<p><strong>Ola Going Through Turbulent Time<\/strong>&nbsp;<\/p>\n\n\n\n<p>It appears that Bhavish Aggarwal led&nbsp; Ola Electric, is undergoing a turbulent phase which is mainly affected by layoffs, financial struggles, and intensified scrutiny from authorities.&nbsp;<\/p>\n\n\n\n<p>The company appears to be all set to cut around 500 jobs across various departments as suggested by the <a href=\"https:\/\/www.ndtvprofit.com\/amp\/business\/at-ola-electric-layoffs-are-a-friday-feature-exclusive?utm_campaign=fullarticle&amp;utm_medium=referral&amp;utm_source=inshorts\">report<\/a>.<\/p>\n\n\n\n<p>This is part of a restructuring initiative aimed at improving operational efficiency and driving profitability.<\/p>\n\n\n\n<p>Further, these layoffs are designed to eliminate redundancies and optimize costs amid a challenging market environment, said the industry insiders.<\/p>\n\n\n\n<p>Moving ahead, these restructuring efforts by Ola Electric, though lacking a defined timeline, underscores the company&#8217;s bid to stabilize margins.&nbsp;<\/p>\n\n\n\n<p>Please note here that the company has yet not confirmed the news of layoffs officially as it did not provide any specific details about the departments affected.<\/p>\n\n\n\n<p><strong>Facing Revenue Loss<\/strong><\/p>\n\n\n\n<p>When it comes to the revenue, the company has reported a 43% increase in its net loss for the July-September quarter (Q2 FY25), amounting to \u20b9495 crore compared to \u20b9347 crore in the previous quarter.&nbsp;<\/p>\n\n\n\n<p>It seems that the company\u2019 revenue also took a hit, declining 26% to \u20b91,214 crore from \u20b91,644 crore in Q1 FY25.<\/p>\n\n\n\n<p>Interestingly Aggarwal emphasized during the post-earnings call that operating expenses had decreased quarter-on-quarter, suggesting the company is focusing on cost efficiency as a pathway to recovery despite these setbacks.<\/p>\n\n\n\n<p>Adding, \u201cAs we continue to scale distribution, revenue will grow while operating expenses remain stable or decrease.\u201d<\/p>\n\n\n\n<p>Besides this, there is also a reduction in Ola Electric\u2019s market share in the electric two-wheeler segment, it has dropped from 49% in Q1 FY25 to 33% in Q2.&nbsp;<\/p>\n\n\n\n<p>The factors such as Increased competition and service network issues have been cited in significantly contributing to this decline.<\/p>\n\n\n\n<p>In addition to this, the consumer complaints regarding software glitches, battery performance, and mechanical failures like jammed tyres have further affected this condition.<\/p>\n\n\n\n<p>Concerning the consumer grievances, the Central Consumer Protection Authority (CCPA) has initiated a probe into the company\u2019s practices.<\/p>\n\n\n\n<p>Now, all eyes are set on the company as they concern how it addresses these challenges and charts a path toward recovery during these turbulent times.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In an attempt to shore up profitability, Ola Electric Mobility Ltd. has laid off 100 employees every week since its service-related woes came to the fore nearly two months ago, said the people aware of the development. Ola Going Through Turbulent Time&nbsp; It appears that Bhavish Aggarwal led&nbsp; Ola Electric, is undergoing a turbulent phase [&hellip;]<\/p>\n","protected":false},"author":27,"featured_media":1287773,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[336,906],"class_list":["post-1287766","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-ola","tag-ola-electric"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ola Electric Firing 100 Employees Every Friday Since Last 60 Days - Trak.in - Indian Business of Tech, Mobile &amp; Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/ola-electric-firing-100-employees-every-friday-since-last-60-days\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ola Electric Firing 100 Employees Every Friday Since Last 60 Days - Trak.in - Indian Business of Tech, Mobile &amp; Startups\" \/>\n<meta property=\"og:description\" content=\"In an attempt to shore up profitability, Ola Electric Mobility Ltd. has laid off 100 employees every week since its service-related woes came to the fore nearly two months ago, said the people aware of the development. 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