Restructuring exercise completed by March end, says Ola Electric

Ola Electric completes restructuring, lays off employees, faces job market flood with 3,118 CVs on Naukri.com.

Ola Electric, Bhavish Aggarwal-founded electric scooter manufacturing firm based in Bengaluru, said by March end it completed the ‘restructuring exercise’ it commenced in November 2024 with ‘an aim of accelerating root to profitability.’

‘’We have completed the restructuring plan that we began in November last year. All layoffs were part of our attempt to remove any talent redundancy existing across the organisation,’‘ a company spokesperson told The Hindu.

As part of the restructuring, aimed at improving margins, reducing costs, and enhancing customer experiences, Ola Electric laid off between 1,000 and 1,300 employees in the past five months, according to a senior executive who was also laid off by the company in mid- March. “The company was in a hurry to finish off the layoff and was busy firing people in the months of February and March. Every day they let go of some 50 to 60 people in these two months.’‘

However, official sources at Ola Electric said, the company opened 3,200 stores in the last three months and a large number of people were hired to manage these outlets. In addition to this, the company also hired techies for its cell manufacturing facility, Gigafactory. ‘‘Therefore, Ola Electric’s total number of people on rolls have not really reduced even after the restructuring,’‘ he insisted while refusing to divulge the number of employees post restructuring.

Close to a dozen Ola Electric employees have called up this newspaper to share their concerns after they were laid off without any prior intimation.

“Some 5 or 10 of us individually would get random surprise calls from HR asking us to come to a room where we would be asked to tender our resignations. No other option would be given but on the spot resignation on the HR portal. We were not even allowed to take a picture of our resignation letters,’‘ said an employee who was part of the product team.

A techie worked with the engineering team said, “I was about to wind up my day on March 27th, then out of the blue comes an HR call asking me to resign instantly and go on garden leave for three months.’‘