After Uber, now Ola will lay off 1400 employees, 95% decline in company revenue in last two months
App-based cab service company Ola plans to lay off about 1400 employees. This constitutes about 25 percent of the total workforce. Company’s CEO Bhavish Aggarwal informed the employees in an email sent to them. Let us inform you that Ola and Uber postponed the services after the government imposed lockdown on 25 March. Now, after partial relaxation in lockdown, Ola has resumed its service in about 160 cities of the country.
The company’s revenue fell down by 95 percent in the last two months
According to a Media report, in an email sent to employees accessed by Inventiva team, Bhavish Aggarwal said – The future of the business is very unclear and uncertain. The impact of the current crisis will be on us for a long time. The effect of coronavirus has been particularly bad for our industry. The company’s revenue has decreased by 95 percent in the last two months. The biggest issue is that this crisis has affected the livelihood of millions of our drivers and their families.
Aggarwal said that the company has decided to lay off 1400 employees.
Uber has laid off 3700 employees
Prior to Ola, Uber has also announced the removal of about four thousand employees recently to deal with the Coronavirus disaster. The company has so far reduced staff by 25 percent. In addition, the company has closed 45 offices globally. It also includes the San Francisco’s Pier 70 office. On Monday, the company has decided to lay off 3000 employees. Earlier in early May, Uber had laid off 3700 employees.
