<p>As Bhavish Aggarwal-led Ola aims to ramp up its electric vehicle (EV) business, media reports have claimed that the ride-hailing platform is laying off around 1,000 employees from across verticals.</p>.<p>According to reports citing employee records, verticals like mobility, hyperlocal, fintech, and Ola's used car operations have included in the layoff process.</p>.<p>However, according to sources close to the company, these layoffs may impact less than 500 employees and not 1,000, and "are a result of restructuring in the Cars and Dash businesses".</p>.<p><strong>Read | <a href="https://www.deccanherald.com/business/business-news/ola-to-invest-500-million-to-set-up-battery-innovation-centre-in-bengaluru-1127822.html" target="_blank">Ola to invest $500 million to set up battery innovation centre in Bengaluru</a></strong></p>.<p>The company currently has nearly 1,100 employees in its core ride-hailing business.</p>.<p>Senior executives at the SoftBank-backed company were recently tasked with identifying team members who can be asked to leave based on performance.</p>.<p>Ola is planning to cut costs amid a challenging funding environment and global downturn.</p>.<p>The company aims at "leaner and consolidated teams" to keep its "strong profitability intact".</p>.<p>The rilde-hailing major recently shut down its used vehicle business Ola Cars, as well as its quick-commerce business, Ola Dash, as the company shifted focus on its electric two-wheeler and car verticals.</p>.<p>Ola, which has delayed its IPO plans, has also applied brakes on its global investment plans.</p>.<p>The company aims to invest more towards its electric car, battery cell manufacturing and financial services businesses.</p>.<p>Ola Electric, amid several high-profile exits and falling sales, is also facing scrutiny over faulty batteries in its electric two-wheelers, along with other EV players like Okinawa Autotech, Pure EV, Jitendra Electric Vehicles and Boom Motors, by the government.</p>.<p>Alarmed at the unabated EV fire incidents, the Centre has sent show-cause notices to EV manufacturers, warning them why a penal action should not be taken against them for delivering faulty electric two-wheelers to the public.</p>
<p>As Bhavish Aggarwal-led Ola aims to ramp up its electric vehicle (EV) business, media reports have claimed that the ride-hailing platform is laying off around 1,000 employees from across verticals.</p>.<p>According to reports citing employee records, verticals like mobility, hyperlocal, fintech, and Ola's used car operations have included in the layoff process.</p>.<p>However, according to sources close to the company, these layoffs may impact less than 500 employees and not 1,000, and "are a result of restructuring in the Cars and Dash businesses".</p>.<p><strong>Read | <a href="https://www.deccanherald.com/business/business-news/ola-to-invest-500-million-to-set-up-battery-innovation-centre-in-bengaluru-1127822.html" target="_blank">Ola to invest $500 million to set up battery innovation centre in Bengaluru</a></strong></p>.<p>The company currently has nearly 1,100 employees in its core ride-hailing business.</p>.<p>Senior executives at the SoftBank-backed company were recently tasked with identifying team members who can be asked to leave based on performance.</p>.<p>Ola is planning to cut costs amid a challenging funding environment and global downturn.</p>.<p>The company aims at "leaner and consolidated teams" to keep its "strong profitability intact".</p>.<p>The rilde-hailing major recently shut down its used vehicle business Ola Cars, as well as its quick-commerce business, Ola Dash, as the company shifted focus on its electric two-wheeler and car verticals.</p>.<p>Ola, which has delayed its IPO plans, has also applied brakes on its global investment plans.</p>.<p>The company aims to invest more towards its electric car, battery cell manufacturing and financial services businesses.</p>.<p>Ola Electric, amid several high-profile exits and falling sales, is also facing scrutiny over faulty batteries in its electric two-wheelers, along with other EV players like Okinawa Autotech, Pure EV, Jitendra Electric Vehicles and Boom Motors, by the government.</p>.<p>Alarmed at the unabated EV fire incidents, the Centre has sent show-cause notices to EV manufacturers, warning them why a penal action should not be taken against them for delivering faulty electric two-wheelers to the public.</p>