Are Ola's 'bad days' here? More than 1000 people were shown the door.

A big news related to Ola is coming out. The company can lay off thousands of its employees. This step is being taken to reduce the company's increasing losses. According to a report by ET, the company has decided to lay off more than a thousand employees and contractors. The company has laid off employees in many departments. These layoffs are happening for the second time in the last five months. The company, which was listed in August, is facing many problems. The company's losses have increased by 50 percent in the December quarter.

Last November, about 500 employees were fired. This layoff is a quarter of the company's total workforce of 4,000. Ola Electric's shares have fallen more than 60 percent in the last few months. Now the company is facing many problems. In February, Ola said that it sold more than 25,000 units. This is equivalent to 28 percent of the market share. This is much less than the target of 50,000 units stated by the company's CEO Bhavish Aggarwal in a February call.

Ola Electric was earlier the largest electric scooter manufacturer in India. But now it has come to third place after Bajaj Auto Limited and TVS Motor Company. The company had a big store launch campaign in December. 3,200 outlets were added in this. This was done to remove the dissatisfaction of the customers. Despite this, Ola is facing more than 80,000 customer complaints every month.

Earlier, TCS had also fired a large number of its employees. Apart from this, Infosys had also recently fired about 300 to 400 trainee employees from the Mysore campus. The reason behind this was that these trainees had failed the evaluation test three times in a row. Seeing the matter escalating, the Union Ministry of Labor and Employment took several steps in this regard.