Electric scooter maker Ola Electric Mobility has fired 500 employees at different levels as part of the restructuring process. People associated with the matter say that Ola Electric has started this layoff from the September quarter.
While a source said that this process has been going on for a long time by Ola Electric and it was started around July this year. The source said that this is a gradual process of Ola Electric to lay off extra people in different departments and at different levels.
The company resolved 99.1 percent of the 10,644 complaints received from the CCPA
The layoff process being carried out by Ola Electric is expected to be completed by the end of this month. Let us tell you that the company has recently faced a lot of criticism for poor and substandard service after the sale of scooters. Earlier this month, the Central Consumer Protection Authority (CCPA) ordered a detailed investigation into complaints related to Ola Electric’s service and defects in electric scooters. The company said last month that it has resolved 99.1 percent of the 10,644 complaints received from the CCPA.
Ola Electric shares closed with good gains on Friday
On Friday, Ola Electric shares closed at Rs 69.14 with a gain of Rs 1.90 (2.83%). The company’s shares started with a decline today. However, due to increased buying during trading, the share price saw a good jump. Ola Electric shares travelled from an intraday low of Rs 66.60 to an intraday high of Rs 69.50 during trading today. Let us tell you that after the action of CCPA, the company’s shares had fallen sharply. The 52-week high of Ola Electric shares is Rs 157.53 and the 52-week low is Rs 66.60.
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