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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Now all like minded should unite and eradicate all the malpractices in the name of religion like :
- Caste system- Upper, lower, Dalit etc.....
- Praying multiple Gods, also praying to Devils, Ghosts
- Fortune telling like horoscope. These can be seen on many Indian TVs.
- Telling the man made stories - that God and giants fight and God is loosing.
- Madai snana in Karanataka,
- Devadasi system in most of the South Indian states
Generally, stick to Vedas and practice it. These are more convincing than man made other books.
The best thing is if you found practical and true, get and follow from other religions.
Where are Ram sena, Bajarangadal ,VHP,ABVP.......? Why not Hindu is ondu in this case. Why not crocodile tears in this case. Wake up fear real creator.
Prostitution Racket using God's Name.. Sick people. This is bcoz of false believes.. Gvt should enforce BAN on it. many poor girls are trapping under this false believes.
Would they agree with SC? May be the order has to come from Nagpur and its never going to happen.
TO those who are ARROGANT
ALLAH says in QURAN: O MANKIND, We have created YOU from a male and a female and have made YOU into nations and tribes for YOU to know ONE another. Truly, the noblest of YOU with God is most PIOUS. Truly, God is all KNOWING, All AWARE - QURAN 49:13
Islam REJECTS certain individuals or nations being favored b'cos of their wealth, power or RACE. ALLAH created human beings as EQUALS who are to be distinguished from each other only on the basis of their faith and PIETY.
Prophet Muhammad pbuh said : O people! Your God is ONE and YOUR forefather (Adam) is ONE. An ARAB is NOT better than a NON-ARAB & a NON-ARAB is not better than an ARAB, and a White person is not better than a BLACK person & a BLACK person is not better than a WHITE person EXCEPT BY GOOD DEEDS & PIETY.
Do YOU know even DALITS also should not be looked down.... If U guys continue to oppress people & did not recognise the true God surely HELL will be the destination. Please READ what God speaks its not just for high class.. everyone can access to GOD's word.
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