India, March 4 -- Ola Electric To Sack Another 1,000 Employees

Barely three months after Ola Electric handed pink slips to around 500 employees to spruce up its bottom line, the EV major is planning to axe an additional 1K+ employees and contract workers to rein in its cash burn.

Attributed to the automation of its front-end operations and "better productivity", the layoff exercise is also said to be in sync with the company's renewed focus on turning profitable.

Just days ago, it emerged that the EV giant had shut all its regional warehouses across India and moved to a more retail store-centric model to store inventory and spare parts. The two changes are expected to bring in roughly INR 30 Cr in monthly savings for Ola Electric.

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