Ola to layoff 1,400 staff due to COVID-19 pandemic, revenues decline by 95%


New Delhi: Cab aggregator Ola stated that it’s going to lay off 1,400 staff from rides, monetary providers and meals enterprise due to the COVID-19 pandemic which has hit the corporate’s revenues drastically.

In an e mail to staff, CEO Bhavish Aggarwal stated, “The fallout of the virus has been very tough for our industry in particular. Our revenue has come down 95% 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. In this moment, various teams across the group have pursued, in spite of the many constraints, to serve drivers, citizens, and the nation at large.”

He wrote that between May 20 and and May 24, the Ola HR workforce may have 1:1 conversations with every one of many impacted people.

The Ola CEO stated that these given the pink slip will receives a commission for three months of their fastened wage whereas these related to the corporate for an extended tenure will get extra.

“Every affected employee will receive a minimum financial payout of 3 months of their fixed salary, irrespective of the notice period. Beyond this, those employees who have spent significantly more time with us will be eligible for higher payouts depending on tenure,” Agarwal talked about.

“While nothing can take the emotional trauma away for those of our colleagues who will be leaving, we have tried to bring together a comprehensive benefits plan that will ensure that every single team member affected is given maximum support on all fronts – financial, healthcare, emotional, and career-support,” he wrote.

The mail additionally talked about in regards to the insurance coverage facility for workers. It stated that staff can proceed utilizing their medical, life and accident insurance coverage cowl for themselves and their households up to 31st Dec 2020 or the beginning of their subsequent job whichever is earlier.

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