Ola Electric, an Indian electric vehicle manufacturer, has experienced rapid growth but now faces challenges. The company is dealing with mounting losses, declining market share, and increased regulatory scrutiny. This has led to significant cost-cutting measures, including large-scale layoffs. - Ola Electric is laying off over 1,000 employees and contract workers across multiple departments. - This is the second round of layoffs for Ola Electric in less than five months, indicating ongoing financial difficulties. - The layoffs are attributed to rising losses, declining market share, and increased competition from rivals. - Departments affected by the layoffs include procurement, fulfillment, customer relations, and charging infrastructure. - Ola Electric's stock price has dropped, reflecting investor concerns about the company's future prospects.