Electric two-wheeler maker Ola Electric is planning to cut around 500 jobs as part of its restructuring plans. Reports say the EV maker has opted for layoffs 'to improve its margins in its effort to achieve profitability'. Ola Electric, which makes electric scooters and is also set to launch electric motorcycles, currently employs more than 4,000 employees. This report of job cuts comes at a time when Ola Electric is also facing scrutiny over its alleged poor after-sales service.

Not only this, Ola Electric is planning to carry out restructuring exercise to make its business more profitable under the leadership of its founder and CEO Bhavish Aggarwal. The EV maker launched its EPO in August this year. However, despite the increase in revenue in the second quarter of FY 2024-25, its stock prices have seen a decline in recent times. Ola Electric has not yet reacted to the layoff reports.

Ola Electric's connection with controversies: According to reports, the news of job cuts in Ola Electric comes at a time when the EV manufacturer is facing action from the Bureau of Indian Standards (BIS) on charges of poor after-sales service. Consumer watchdog Central Consumer Protection Authority (CCPA) had asked BIS to investigate after issuing a show cause notice to Ola Electric over alleged violation of consumer rights, misleading advertising and unfair trade practices.

The CCPA had issued a show cause notice against Ola Electric after receiving more than 10,000 consumer complaints. Last month, Ola Electric claimed that it had resolved more than 99 percent of the 10,644 customer complaints. Ola Electric CEO and founder Bhavish Aggarwal had said about this, "Two-thirds of these are actually just minor issues like loose parts or customers are unfamiliar with the software used." However, the CCPA does not seem to be satisfied with Ola Electric's claims.

Not only this, this will not be the first restructuring exercise to be carried out by the EV maker. In 2022, Ola laid off around 1,000 employees as it completely shut down its second-hand car business and two other businesses to focus more on the EV business.

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