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.
Anant Kumar Dattatreya Hegde, a member of parliament, who represents coastal Karnataka's Uttara Kannada constituency, in a press meet at his native Srisi on Sunday stated that terrorism could not be wiped out as long as Islam remained in this world.
Comments
Death to the Global Jihad.
Death to Sharia.
Death to Islamism.
Jai Hind!
sir in my vision you are the great indian leader
sir in my vision you are the great leader in the indian history
sir in my vision you are the great leader in the indian histor
To Bopanna,
Hi Guy, Just study the fact in India itself Islam is growing faster than any religion. Most of the them who embraced Islam are Hindus. But they are educated, I don't know your knowledge
You need to refresh your mind. Please Don't waste the reader's time.
.
What's wrong in what he said ? He spoke the truth that Islam is a violent religion
Send him to mental hospital.
He should be wiped out and NOT ISLAM......Where are you Naren....we are missing you.... Lost in the Bangkok streets.....If you are still there, please take this MAD MAN to Bangkok....
This is a failed attempt to divert the public concentration from the issues like Rohit Vemula and JNU in Karnataka... Chaddi's will never learn from history.....
Nobody in India gave such statement against any religion.
Poor guy forgot Dr. Chittaranjan's fate in the same Bhatkal.
Now he is in risk, why unnecessarily inviting unbearable venture.
He is in Bhatkal. better apologize or prepare for the worst.
Don't worry until today those tried to wipeout islam are themself wiped out,it is a promise of almighty to the people till the last hour comes let witness those alive.
What a Joke!!!
If you want to come to Lime Light you utter such non-sense, actually he is pleading not appealing to the Media to publish his speech, otherwise who will know him, never heard his name before, now he is Star (Villain Star),
Way to go Anant Kumar!!
Like that barking only uneducated Pagal Kuttha so leave it.
More the people trying to defame Islam the more Islam is spreading. 9/11 was done to defame Islam since then more people studies Islam and accepted Islam. allahu akbar
Poor guy.. Joined politics couldnt do anything for the community. Nobody even knows him.. He did nothing. Now he wants to come on news headlines, want to be famous as getting old. Want to be hero among people who provoke.. Want to be another donald trump of india. My dear nobody cares for you. Nobody wants to know you.. Hehe what a waste having you in india.
Mr.AKD...just asks with your own Hindu Brothers & sisters those who live in Arabian Sand , how they enjoy their peace life with their family & children in Muslim countries ! Then you will come to know the real fact of terrorism.
COMMUNAL RAGAV, GO TO NEPAL FOR FREEDOM SPEECH ,///// WE NEED PEACE HERE,, [JAI HIND]
one more idiot appears in chaddi parivaar.
This stupid is dangerous to peace loving Hindu society
You better try yourself rather than asking others to do it. Most of the people in BJP are gone mad. O Hegde Islam is near to your door step. Come out if you dare to know the beauty of Islam.
Metal Manja This MP,
More you try to wipe out more it spreads
This RSS dog is trying to spread virus poison at Uttara Kannada surroundings. Hope peace loving Kannadiga's will kick him from power shortly.
All are well aware these are the special training from his dirty nagpur base.
But rss will never succeed fro any angle.
He is in the state of \vitiated by perversity nature\""
Where is the commnet from Ibraheem Hussain Udupi.
We muslims fuck you anthya kumra hedge...
See his pig face donkey...why media is publishing this type of dog news...
Islam is the religion which brings peace and tranquility to entire human kind, now it is your turn to accept Islam and do some good things, otherwise you will have to taste hell fire hereafter. Also you have to believe in last and final messenger of Allah \Mohammed Sallalahu Alaiwassallam\".....
I pray. May Allah give you hidaya (goodness) and accept Islam as soon as possible...."
Dear Mr. Anantha its not like make in india or Mad in india or something like that , this is Isalam one and only Fast Growing Religion throughout the world no one can Stop, you are a just Dust for our Religion.
Islam is a religion of ALLAH.No one can harm Islam.Bec Allah knows how to protect his religion.Dont take it seriously leave him (Poor Guy).Allah is the great planer than the so called ordinary people.For them this world is All.But for us Life begins AFTER DEATH.So you people enjoy here we Muslim will enjoy Later.(In sha allah)
He wants to capture the attention of Mr,Modi by giving such statements where Modi likes such statements and will they will get the Minister post in his Cabinet.Like Anupam Kher got Nation Award for speaking against Amir Khan.
WHAT HE KNOW ABOUT ISLAM , USELESS GUY HE IS ..
I THK THIS TIME HE NEED TICKET UN ELECTION SO HE BARKING LIKE DOG
IF SOMEINE TALK AGAINST THE ISLAM OFFCOURCE BJP WIL GIVE TICKET ,
Y MEDIA HE HIGHLIGHTED THIS USELESS GUY NEWS..
Intolerence.....
He thought he became hero, barking like dog.
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