Ola Electric Mobility Ltd. is set to lay off over 1,000 employees and contract workers to curb mounting losses, according to a Bloomberg report. The job cuts will impact departments such as procurement, fulfillment, customer relations, and charging infrastructure. This move is part of the company's broader cost-cutting strategy. In November 2023, reports indicated that Ola Electric had previously laid off around 500 employees as part of a restructuring effort aimed at improving margins and profitability. Stock Decline and Financial Performance Following the layoff news, Ola’s stock fell 3.40%, closing at ₹54.90 on the National Stock Exchange (NSE). Over the past six months, shares have plunged by nearly 52%, with a 37% drop in 2025 alone. In Q3 FY25, Ola Electric reported a consolidated net loss of ₹564 crore, a 50% increase from ₹376 crore in the same quarter last year. Revenue from operations stood at ₹1,045 crore for October-December, marking a 19% decline from ₹1,296 crore a year ago. The company announced its third-quarter results on February 7. Ola Electric Mobility was established in 2017 Ola Electric Mobility, founded in 2017 and based in Bengaluru, specializes in manufacturing electric vehicles, battery packs, motors, and vehicle frames at its Ola Future Factory.