Wednesday, October 1, 2025
spot_img

Ola Electric Cuts 500 Jobs for Cost Reduction

spot_img
- Advertisement -

According to Economic Times, Ola Electric is preparing to downsize its workforce by approximately 400-500 employees across various departments.

This restructuring initiative is slated to unfold over the forthcoming weeks as part of a broader strategy to trim operational expenditures in anticipation of the company’s impending initial public offering (IPO).

However, the precise extent of the workforce reduction remains subject to adjustment, as Ola Electric is currently assessing and finalizing the magnitude of the layoffs.

The reported layoffs show the organization’s efforts to streamline its operations and bolster its financial position ahead of its IPO.  

Other Companies Layoffs

Indeed plans to layoff approximately 1,000 employees, constituting around 8% of its workforce to streamline its organizational structure.

Tesla has disclosed intentions to lay off 6,020 workers in Texas and California, aligning with its strategy to tackle waning demand and shrinking margins. Toshiba to Cut 5,000 Jobs and on the other hand, and Google will also layoff employees.

In March, Zee Entertainment initiated cost-cutting measures, slashing 50% of its tech team at the Bengaluru innovation center following the failed merger with Sony.

In January, Citigroup was expected to cut at least 20,000 jobs over the next two years as it reported its worst quarter in 14 years.

Also Watch: How to Cultivate a Thriving Work Culture for Success, Click Here

In 2024, the companies may resort to layoffs for various reasons including Financial Challenges, Restructuring, Technological Changes, Technological Changes, and Performance Issues.

So far in 2024, there have been 585 layoffs at tech companies with 141,746 people impacted (914 people per day). In 2023, there were 2,001 layoffs at tech companies and 428,836 people impacted (1,175 people per day).

Note: We are also on WhatsApp, LinkedIn, Google News, and YouTube, to get the latest news updates, Subscribe to our Channels. WhatsApp– Click HereGoogle News– Click HereYouTube â€“ Click Here, and LinkedIn– Click Here.

spot_img

Editorial

Why TCS Deferred FY25 Salary Hike: Better Hike Ahead?

TCS had initially announced its annual salary hike during...

Deloitte, PWC, EY, KPMG to Hire 1 Lakh People in India in FY25

According to estimates from top company officials and industry...

Higher EPS Pension Application Stuck: A Step-by-Step Guide to Fix

Nearly 97,640 Provident Fund (PF) members and pensioners under...

Employee Benefits at India’s Big 4 Firms Deloitte, PwC , EY, KPMG

The Big 4 firms; Deloitte, PwC (PricewaterhouseCoopers), EY (Ernst...

TCS Announces 4-8% Salary Hike for FY25, Lowest in Last 4 Years

Tata Consultancy Services (TCS), India's largest IT services provider,...

Must Read

Govt announces interest-free festival advance to employees

Government announces Rs 10,000 interest-free festival advance to employees The...

Blue-collar jobs on recovery path led by delivery segment

Blue-collar jobs on recovery path led by delivery segment:...

Tech Startup layoffs in India drop 60% in January-March, report

As per Layoff.fyi, Indian technology startups have scaled back...

Elon Musk and 1000 experts sign open letter urging to pause on AI systems

According to various reports, Elon Musk and nearly 1000...

Microsoft shareholders back proposal seeking report sexual harassment

Microsoft Corp said on Tuesday its shareholders had approved...

Mahindra & Mahindra appoints Toru Saito as President & CEO of MAM, Japan

Toru Saito appointed as President & CEO of Mitsubishi...

Disney World to lay off 11,000 employees amid pandemic

Disney World to lay off 11,000 employees amid pandemic Walt...

Related Articles

Sheenu Pradhan
Sheenu Pradhanhttps://sightsinplus.com/
Sheenu Pradhan, Editor Content, SightsIn Plus. She has over 8 years of experience in human resources. Prior to this, she has been associated with Wictor Chemicals India, Wipro, and Shakti Plas Industry.