Ola Electric plans to lay off around 500 employees: Report
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Ola Electric, the Bengaluru-based electric two-wheeler manufacturer, is planning to lay off between 400-500 employees in the coming weeks, as per the Economic Times. The decision comes as part of an effort by founder Bhavish Aggarwal to reduce operating costs ahead of the company's initial public offering (IPO). The exact number and distribution of layoffs across different verticals are yet to be finalized by the leadership team.