Ola Electric, India's top electric two-wheeler maker by sales, said on Monday it is eliminating some roles due to restructuring and automation, with Bloomberg News pinning the number at over 1,000, amid the company's push for profitability.

Ola Electric layoffs comes just months after the company, led by Bhavish Aggarwal, made 300-400 employees redundant—less than 10% of its workforce—citing a stronger emphasis on profitability.

Shares of Ola Electric Mobility on Monday fell more than 3 per cent on Monday after reports that the company is planning to cut around 1,000 jobs across different functions as part of a restructuring

Ola Electric Mobility, India's top electric two-wheeler maker by sales, is laying off more than 1,000 employees and contract workers as it seeks to prioritise profitability, Bloomberg News reported on Monday,