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Bengaluru, May 20: Ride-sharing company Ola Cabs said on Wednesday it will lay off 1,400 of its employees due to business uncertainty caused by the coronavirus pandemic while the revenue has come down by 95 per cent in the past two months.

"The COVID crisis continues to unfold all around us causing unprecedented economic and social destruction. It has also become evident that the coronavirus will not be eliminated any time soon," wrote co-founder and CEO Bhavish Aggarwal to all Ola employees.

"In these circumstances, today I write to all of you with the toughest decision I have ever taken -- the need to downsize our organisation and let go of 1,400 of our valued employees," he said.

Aggarwal said the fallout of virus has been very tough for the cab aggregating industry in particular. "The company's revenue has come down by 95 per cent over the past two months," he said.

Initially, he said, the company hoped it would be a short-lived crisis and that its impact would be temporary. "But unfortunately, it is not been a short crisis. And the prognosis ahead for our business is very unclear and uncertain. It is going to take a long time for people to go out and about like before."
With more companies preferring to have a large number of employees work from home, air travel limited to essential trips and vacations being put off for better times, the impact of this crisis is definitely going to be long-drawn, said Aggarwal.

"The world is not going to revert to the pre-COVID era anytime soon. Social distancing, anxiety and an abundance of caution will be the operating principles for everyone," he told employees.

Aggarwal said the crisis necessitates the need to conserve cash aggressively so that Ola is able to invest in opportunities in the future, adding the downsizing exercise has been a very tough and sad decision for the management team to make.

"While we restructure our organisation to the new realities of our business, we are also going to recommit ourselves to strengthening our operational excellence and leverage a lot more technology to improve efficiencies and reduce cost across all parts of our business," he said.

Mangaluru, Jan 23: Bajpe Police on Thursday registered yet another case against the prime accused in Mangaluru International Airport case, Aditya Rao.

According to the police, a complaint was received from the officials of Indigo flight that they had to delay their flight scheduled to take off for Hyderabad at 1615 hrs after receiving a hoax call from Aditya, threatening of bomb.

They also asserted that the passengers were de-boarded from the flight and the luggages were brought back to security check again.

Bengaluru, Jun 27: Announcing Karnataka’s ambitious plan to install a 108-ft-tall statue of Nadaprabhu Kempegowda outside the airport, deputy chief minister Ashwath Narayan said the government will bear the project cost — approximately Rs 78 crore.

Work on the project will formally commence with the chief minister laying foundation stone for installation of the statue and development of a 23-acre park where it will come up, on Saturday.

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An artist’s impression of the 108-ft-tall statue, which is proposed to come up in a 23-acre park outside KIA. The chief minister will perform bhoomi puja on Saturday.

KPCC president DK Shivakumar on Thursday suggested the cost be borne by Kempegowda International Airport and not the government. He wrote to the CM welcoming the decision to erect a statue of the chieftain at KIA, but asked why should the govenment spend on it. “When huge concessions have been provided to KIA, why not use its services to construct the statue,” he asked. Narayan, who is chairman of Kempegowda Development Authority, said it is the government’s duty to bear the cost.

The government has released sketches of the statue and a blueprint of the park. Noted sculptor Ram Sutar, who designed the Gandhi statue located between Vidhana Soudha and Vikasa Soudha and the Statue of Unity in Gujarat, will be part of this project as well.

Narayan said the government was not competing with any other state on having a tallest/largest statue while emphasising that Kempegowda ensured the city had tanks, markets and drainage system when it was founded. He added the government won’t invite many guests to Saturday’s ceremony. “Most legislators will be given a virtual link to view the event,” he said.