JD(S), BJP slam Ramya for questioning Sangh Parivar's role in freedom struggle

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.

Bengaluru, Jul 20: Karnataka Minister for Primary and Higher Education S Suresh Kumar today said that the results of the Secondary School Leaving Certificate (SSLC) Examinations, held amidst Corona threat, will be announced in the first week of August.

Speaking to newsmen on Monday after visiting the evaluation centres in the City, said that the work is in full swing and it was proposed to announce the results by end of first week next month.

He said that the evaluation of the answer sheets are set to take another 10-12 days. Currently, evaluations of the answer sheets are taking place at 220 centres in the State.

Udupi, Jul 21: Sri Sugunendra Teertha Swami, the chief pontiff of Puthige Mutt, has tested positive for coronavirus. 

The pontiff got admitted into KMC Hospital Manipal last night and his treatment is in progress at the said hospital.

He was supposed to initiate his annual Chaturmasa Vruta at Padigaru Mutt on Tuesday.

According to sources, he was suffering from fever and hence he opted to get tested for covid-19. His health condition is said to be stable.