Modi govt to sell Air India, Bharat Petroleum by March 2020

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, May 8: Dr Arathi Krishna, former deputy chairman of Karnataka NRI Forum, today called on Karnataka chief secretary Vijaya Bhaskar and urged him to exert pressure on the Centre through chief minister to expedite evacuation of Kannadigas stuck in Saudi Arabia amidst covid-19 lockdown. 

She also conveyed the message from labourers in Gulf countries requesting for free quarantine facility upon their arrival. Positively responding to the demand, Mr Bhaskar said that free quarantine facility will be arranged at BSF base in Bengaluru apart from paid quarantine facility in different hotels and guest houses.

Dr Arathi Krishna told coastaldigest.com that she also spoke to the officials in-charge of Gulf in the Ministry of External Affairs  and requested them to take necessary steps to add more special flights from Gulf countries to Karnataka. 

The officials have promised to consider operating flight from Riyadh to Mangaluru via Dammam in the second wave of evacuation, the schedule of which is expected to be announced in a few days, she said.

Bengaluru, Mar 25: Karnataka Minister Dr K Sudhakar has been allocated all matters related to COVID-19 by the Governor on the advice of Chief Minister BS Yediyurappa.
Health Minister B Sriramulu, who earlier handled matters related to COVID-19, has been allotted the Backward Class Welfare Development portfolio.
Karnataka on Monday announced a complete lockdown in the state till April 1.
"In the wake of the coronavirus outbreak, the entire state will be locked down from 12 o'clock night of March 23 to April 1. People are requested to strictly follow it to contain the coronavirus spread," Yediyurappa had said.