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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Madrasa teacher is recently accepted Islam. His surname was Kotian, he might be Narain Kotian's relative.
Please confirm,and hang him till his death.
oho...naren koti .where were you ..during ragaveshvara premalata ...harikatha..scandal ..do you feel proud abt ragaveshvara sree..you may find pejavara supporting ragavesvara...and contributed his part with him...but here you cant find anyone Muslim supporting madrasa teacher ...
Naren they love camels and bacchaabaazi is practiced in Afghan and pakis
Naren Anna,
When did you change your location from Thai Naadu to Singapore?
See below what perfect manuals have to say on the topic:-
In Hinduisum:-
Homosexuality is regarded as one of the possible expressions of human desire, Although some Hindu dharmic texts contain injunctions against homosexuality, a number of Hindu mythic stories have portrayed homosexual experience as natural and joyful, There are several Hindu temples which have carvings that depict both men and women engaging in homosexual sex
in Islam:-
In more than one place in Holy Quran, Allah recounts to us the story of Lut's people, and how he destroyed them for their wicked practice of homosexuality, there is consensus among Muslims and the followers of all other religions that sodomy is an enormity, It's even uglier that adultery,
Now, judge yourself, This madrasa teacher influenced by whom????
Naren Kotian, He must be inspired by your God men Swami Nithyananda, Ashram Bapu, Sant Rampal, Baba Ramdev, Swami Agnivesh, Chanraswami, Swami Raghaveshwara Bharati!!
@ Naren Kotian,
DONT TALK TOO MUCH OKK..
Some pandits and ustads have unnatural sex with cows too. Both should be hanged.
Indian law is very weak. Nobody cares for the law.
Some pandits and ustad have unnatural sex with cows too. Both should be hanged
Our law is very weak.
Haha where are jihadis ...faizhal Bhai ..yelri hogideera..beef business jora ? ..haha ...Dana kadiyokke ballu hidkondu kaaykondu kootideera henge ...eddu banree ...nimma ummah guru kanree...3 janakke chummah kotkondu iddaaga sikki haakondavne ...I heard it is in your perfect manual Anthe howda...? ...haha
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