New Delhi: Cab aggregator Ola is laying off 1,400 staff from rides, financial services and food business as revenues declined by 95 per cent in the last two months due to coronavirus pandemic, a note by CEO Bhavish Aggarwal said. Also Read - Sanitizing Lanes, Places of Worship, This Woman is Doing Her Bit in COVID-19 Times
In an email to employees, Aggarwal made it clear that the prognosis ahead for the business is “very unclear and uncertain” and the impact of this crisis is “definitely going to be long-drawn for us”. Also Read - 'Why Can't Private Hospitals Built on Free Land Give Free Treatment to COVID-19 Patients', SC Asks Centre
“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 said. Also Read - Nokia Suspends Operations at Its Tamil Nadu Plant After 42 Employees Test COVID-19 Positive: Report
The company has decided to downsize and “let go” of 1,400 employees, Aggarwal added.