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…