Ola Electric to lay off 5% of workforce

Bengaluru: Ola Electric said it will cut about 5% of its workforce as part of a broader business turnaround and structural transformation focused on automation and service-led execution. The company had around 3,500 employees before the layoffs, according to a person familiar with the matter who spoke on condition of anonymity.The latest decision, affecting about 175 roles across departments, comes amid efforts to streamline operations. The electric two-wheeler maker said it is doubling down on speed and discipline across its front-end operations through increased automation.