<h1>Ola Electric Shares Drop 3% Amid Plans to Cut 1,000 Jobs for Cost Reduction and Improved EBITDA Margins</h1> Shares of Ola Electric Mobility fell over 3% following reports of the company planning to cut approximately 1,000 jobs as part of a restructuring effort to reduce losses. The stock closed at Rs 54.90 on the NSE and Rs 55.18 on the BSE, after hitting a 52-week low. Since its listing, the shares have decreased by 66% from their peak. The job cuts, the second in five months, aim to improve EBITDA margins and streamline operations. Ola Electric is also leveraging its retail stores for inventory management and renegotiating contracts to cut costs.