Fully focusing on governance; no fear about political developments: HDK

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.

Udupi, July 1: In a concerning development, another SSLC student in Udupi district has tested positive for covid-19.

With this the number of covid-19 patients among SSLC students in the coastal district rose to three. All of them are girls.

The fresh case has been reported from Byndoor. She has already written three papers.

She had reportedly developed some of the symptoms and hence her throat swabs were sent for testing on June 30. Today she received positive report, sources said.

Chikkamagaluru, May 9: A young Hindu activist allegedly killed his brother at Beeranahalli in Tarikere taluk of Chikkamagaluru district in Karnataka over a board game dispute.

The accused has been identified as 26-year-old Kiran and the victim is his 29-year-old brother Arun, said police.

According to police, the duo were playing a board game on Thursday and they had placed a bet of Rs 500. 

After Arun won the game, he asked for the money and Kiran refused to yield, which lead to an argument. 

In a fit of rage, an intoxicated Kiran hit his brother and when the latter fell unconscious and dragged him on to the road.

Arun was immediately rushed to McGann Hospital in Shivamogga. However, he died on Thursday night, said police.

A case was registered at the Lakkavalli Police Station.