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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, July 21: Putting an end to all speculations, district in charge minister Kota Srinvas Poojary on Tuesday said that the lockdown in Dakshina Kannada will not be extended beyond Wednesday.

In a video message, the minister said that all the shops in the district will remain open from July 23 morning. He said district administration will make a formal announcement soon.  

Meanwhile chief minister B S Yediyurappa said: “There’ll be no lockdown from Wednesday, people need to get back to work, economy is also very important. We have to fight COVID-19 while maintaining stable economy. Lockdown is not the solution, now restrictions will be placed only in containment zones.”

Mangaluru, Jan 20: A suspicious unattended laptop bag with the suspicion of containing “something harmful” was found abandoned at the Mangaluru International Airport on Monday.

The bag was found kept in the rest area meant for the passengers outside the airport. According to reports, two men came in auto and left the bag near the ticket counter, which is near the VIP vehicles parking area.

The bag, which was lying unattended near the entrance of the airport was removed from the spot by the airport security personnel at 8.45 am.

Bomb detection squad personnel has rushed to the spot and shifted the bag to a safe zone, said Mangaluru Commissioner of Police P S Harsha.