Ola Electric set to lay off 500 employees amid controversies, poor results ...Middle East

New Delhi: Ola Electric, mired in controversies amid a government probe and mounting losses, is set to lay off at least 500 employees as part of an restructuring exercise. The Bhavish Aggarwal-led electric vehicle (EV) company is trying to boost its operational efficiency by reducing redundancies and “drive profitability”, according to multiple reports. The restructuring exercise will impact employees from several departments, the reports added. According to an Inc42 report, citing sources, “the aim is to cut expenses to drive profitability and improve margins. There’s no set time period for the completion of the exercise”. Ola Electric did not immediately comment on layoffs. The company re

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