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.
"People of the country are demanding a Ram temple, but how will a Ram temple be made if there are no Ram-bhakts in the country," he said while addressing a programme at Devbad area of Saharanpur district.
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PUTTIDINA JOKULEG YER NINNA AMME TUPENA
Let us start with Ur Master.
This KKB again started to B--k
Why people cast their valuable vote in favor to this uncultured mannerless creatures. Most of the elected mp's are with same attitude and mind set. For our unite India all should kick them out from country like India.
KKB - KUTTE KA BACCHA.
during partition muslims in India was 36% and part of them migrated , so now decreased to 15%.. hindus in pakistan migrated to India , still migrating , hindu population might have decreased there also....even then minority hindus enjoying reservation in politics , education . etc
Here is one more....these BJP leaders are out of mind. Someone is saying change the religion (Ghar wapsi) and someone is asking to go to pakistan someone wants hindus to show their mardangi. Rubbish ppl with fools followers
good news for modi and baba ramdev......
U start the lead, let followers take your step
Vegans are deficient in many important nutrients like Vit B12, Creatine. Studies shows that Vegetarians have much lower levels of Testosterone than their meat eating counterparts
There was a time when the enemies of mankind spread the LIES of accessive Population is harmful to earth and they spread the fear & introduced \hum do hamare do\". --- We see the results that most of those who never read about \"the revelation of God who gave the life\" have been trapped in this depopulation situation and NOW they are forcing their community to make children... without any financial aid.
ALLAH the creator of all that exists speaks about the life and death of every thing that he created..
one ayat of quran below: (17:31)
Do not kill your children for FEAR of POVERTY. We will provide for them and for YOU. Surely killing them is a great sin...
Those who trusted God never fall trap to such fear....
At that time and even now Many abortion took place to live a worldly enjoyment but in their old age people desired that they had many childrens... which they regret of not having 3 or more children..
Dont forget, India and China with most population are the most fast growing economy today.. Nothing to feel ashamed... only the ruling few will put fear on the people to control their evil agenda.."
have beef consumption .....for population increment
Raj Takre did not oppose our players to play against Pakistan hokey match in KL....HYPOCRISY....
India's population is 1.5 Billion......can India afford another 1.5 billion....to build Ram Temple....these are politicians gimmick to cheat poor innocent voters....very sad....
First eat madam posts and cashews....ha haa.....and ask for strong guns....
Giri babu
How many children U have or How much children U planned? Let the Cheddi members know that ...
It is hard to follow cos most of our leaders are just barking and no action..
our PM needs to reconcile with his partner
Cheddi Bachelors club - needs to search for partners even in old age to reach this target...
We need some leaders with action not blah blah...
If 76% Population is of Hindus, 24% Muslims!!! which is = 100%, then what about christian, Jain, Sikhs, Buddhists & Atheist?????
Mathematical Error Mr. Giriraj Singh.. You don't know simple maths and you are the Union Minister for the State.!!!! STRANGE....
Dikhao yaar. Mardaangi hai to.
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