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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.

Sirsi, May 3: A group of 19 students from the district were on Saturday safety brought back to Jawahar Navodaya Vidyalaya (JNV) at Malagi in Mundgod taluk by special buses from Madhya Pradesh.

The students were admitted to the JNV, Junapani, Bhopal district, for class 9 this academic year. They were kept at a hostel since March 22.

They could not leave for the state as train services were suspended before they were ready for the travel. Hence, they were kept at the local hostel.

Based on requests by parents, Labour Minister Shivaram Hebbar, directed the chief secretary to get in touch with the Madhya Pradesh government to bring back the students.

Hebbar, who visited the JNV, said that the students would be sent to their homes in two days after medical tests.

According to the JNV authorities, the decision was taken to bring back the students as their parents were worried. The students were safe at the JNV, Junapani and all facilities were provided to them at the hostel.

Bengaluru, Apr 18: Karnataka Congress president DK Shivakumar on Saturday appealed to Prime Minister Narendra Modi to deposit at least Rs 10,000 in bank accounts of people belonging to the unorganised sector.

"The unorganised sector comprises barbers, dhobi, cooks, carpenters, sweepers, drivers and autorickshaw drivers. Prime Minister Narendra Modi did not mention anything about giving subsistence to these people," Shivakumar, told ANI, referring to the Prime Minister's address earlier this week.

Modi had announced the extension of the ongoing nationwide lockdown till May 3 in order to curb the spread of coronavirus.

"I appeal to Prime Minister Modi to register the members of the unregistered sector under the National Rural Employment Guarantee Act (NREGA) or deposit at least Rs 10,000 to the bank accounts of each of the members of unorganised sector to help them survive the lockdown," he added.

Though the Congress party will continue the central government and state government's fight against coronavirus, he said, both the governments need to help people who are part of the unorganised sector.

"The farmers have told me that due to the lockdown they are ready to sell the vegetables, which once used to be sold at Rs 100 per kg, at even Rs 5 per kg," he said.

Speaking on the suggestions he made to Chief Minister BS Yediyurappa, Shivakumar said, "I requested the Chief Minister to send a team to do a videograph and make an assessment of the on-ground situation. However, till now, no one has gone."