Ola Electric to lay off over 500 employees: Report

Bhavish Aggarwal-led Ola Electric is laying off over 500 employees across various roles within the company in a restructuring drive, Moneycontrol reported. The move is reportedly aimed to improve margins and attain profitability. In 2022, Ola Electric shuttered three verticals and laid off around 1,000 employees to focus on EV business, the report said.