Layoffs hit Ola Electric; Paytm shares dive

Ola Electric has implemented significant job cuts amidst ongoing challenges. This and more in today’s ETtech Top in the letter:■ Infosys layoffs row intensifies■ Trump’s strategic crypto reserve■ Growing demand for collection agentsOla Electric cuts 1,200 jobs amid losses, sales decline; Shares hit all-time low 118686609Bhavish Aggarwal, founder, Ola ElectricElectric two-wheeler maker Ola Electric Mobility has laid off around 1,200 employees and contract workers over the past two months as it grapples with a declining market share and widening financial losses, sources told shake-up: The latest layoffs are part of an ongoing overhaul at the company. In November, ET reported that the Bhavish Aggarwal-led firm had laid off 300–400 employees—under 10% of its workforce—citing a sharper focus on per its IPO filing in March 2024, Ola Electric reported a workforce of 4,011 employees.