Hyperdrive
Ola Electric Said to Cut Over a Thousand Jobs to Stem Losses
Shares of Ola Electric have plunged over 60% from its peak since a blockbuster IPO debut in August.
Photographer: Anindito Mukherjee/BloombergThis article is for subscribers only.
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Ola Electric Mobility Ltd. is laying off over a thousand employees and contract workers, people familiar with the matter said, as one of India’s top scooter-makers races to pare ballooning losses.