India, March 3 -- Bhavish Aggarwal-led electric vehicle major is reportedly planning to lay off more than 1,000 employees and contract workers in an effort to stem its growing losses.

As per Bloomberg's report, the job cuts will affect multiple departments, including procurement, fulfilment, customer relations and charging infrastructure. People familiar with the matter also said that the layoffs are part of Ola Electric's efforts to control costs.

Inc42 has reached out to Ola Electric for confirmation around the development. The story will be updated based on the responses.

This marks the company's second round of job cuts in less than five months. In November 2024, Ola Electric laid off around 500 employees, and the latest round of d...