Mass Layoffs At Ola Electric, Paytm Under ED Lens & More

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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…



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Mass Layoffs At Ola Electric, Paytm Under ED Lens & More


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…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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