Ola to lay off 1,400 staff as COVID-19 pandemic hits revenues

NEW DELHI: Cab aggregator Ola is laying off 1,400 staff from rides, monetary providers and meals enterprise as revenues declined by 95 per cent within the final two months due to coronavirus pandemic, a word by CEO Bhavish Aggarwal stated.
In an e mail to workers, Aggarwal made it clear that the prognosis forward for the enterprise is “very unclear and uncertain” and the affect of this disaster is “definitely going to be long-drawn for us”.

“The fallout of the virus has been very tough for our industry in particular. Our revenue has come down 95 per cent over the past 2 months. Most importantly, this crisis has affected the livelihoods of millions of our drivers and their families across India and our international geographies,” he stated.

The firm has determined to downsize and “let go” of 1,400 workers, Aggarwal added.

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