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.
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who ever dead we should respect the soul bcoz..it belong to GOD almighty...
if he done good he will get heaven if he do idol worshipping then ( ) .....
Idol worshipping is the biggest sin ever done by mankind, you cant insult GOD by placing some stone, many hands and tunge out and animal figur.
GOD is beautiful, he is merciful he dont harm any mankind unless they cross the evilist boundry.
he had many sin in his hand, one of the member in demolishing the God worshipping place (baber masjid).
Na tasya pratima asti (Yajurveda 32.3). It means "of that Almighty God there is no pratima (image, painting,idol) "
Enlighting from the verses of the Quran :
Quran 29:57 - Every soul will taste death, then it is to Us that you will be returned.
Quran 3:26 - Say, "O Allah, Owner of Sovereignty, You give sovereignty to whom You will and You take sovereignty away from whom You will. You honor whom You will and You humble whom You will. In Your hand is [all] good. Indeed, You are over all things competent.
Quran 3:27 - You cause the night to enter the day, and You cause the day to enter the night; and You bring the living out of the dead, and You bring the dead out of the living. And You give provision to whom You will without account."
Quran 3:30 - The Day every soul will find what it has done of good present [before it] and what it has done of evil, it will wish that between itself and that [evil] was a great distance. And Allah warns you of Himself, and Allah is Kind to [His] servants."
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