Founder Bhavish Aggarwal is sharpening his focus on reigning in operating costs ahead of initial public offering The final number of layoffs at Ola Electric could still change as the leadership team is currently determining the scale of the reductions, which are expected to affect various verticals Some of the impacted employees may be replaced with new hires at a lower cost, but the overall headcount is expected to shrink Electric vehicle maker Ola Electric is reportedly planning to trim its workforce by 400-500 employees to streamline operations. Citing multiple people close to the matter, ET reported that founder Bhavish Aggarwal is sharpening his focus on reigning in operating costs ahead of initial public offering. The report further added that the final number of layoffs at Bengaluru-based Ola Electric could still change as the leadership team is currently determining the scale of the reductions, which are expected to affect various verticals.
Although, some of the impacted employees may be replaced with new hires at a lower cost, but the overall headcount is expected to shrink. “Inside, they (Ola Electric team) are finalising the list across different teams. Three to four teams have already decided on the numbers, but the cuts will be organisation-wide,” a source told ET.
The source added that Aggarwal has been consistently pushing to reduce costs across all avenues. However, an Ola spokesperson told Inc42, “We are in a transformative high growth industry and our.