Ola Electric, one of India’s most high-profile electric vehicle (EV) manufacturers, is set to lay off nearly 5% of its workforce as it looks to streamline operations and reduce expenses in an increasingly competitive and capital-intensive market. The move is part of a wider internal restructuring effort and comes at a time when several new-age companies are reassessing growth strategies amid tighter funding conditions.
According to people familiar with the matter, the job cuts will affect multiple departments, including support functions and select operational roles. While the company has not publicly disclosed the exact number of employees impacted, a 5% reduction could translate into seve
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