Ola Electric undertakes internal restructuring, cuts around 1,000 jobs

Bhavish Aggarwal-led electric two-wheeler maker Ola Electric has initiated a major internal restructuring exercise, leading to the layoff of around 1,000 employees across sales, distribution and marketing departments, sources told Moneycontrol. The company is identifying areas where restructuring is needed. Some on-ground distribution networks were shut down and several people there were let go," sources close to the development told.