Categories: Business

Ola announce 1400 job cut amid pandemic

Photo: @TWITTER

Ola announce job cut

new Delhi. Bhavesh Agarwal, CEO of Ola, an online cab booking company, has said that it has lost 95 per cent of its earnings from the rides, financial services and food businesses in the last two months due to the corona virus epidemic, and that it is laying off 1,400 employees. . In an email sent to employees, Agarwal made it clear that the future of the business was "very vague and uncertain" and that "the impact of this crisis will certainly be on us for a long time". The impact of the virus has been very bad for our industry. Our earnings have declined by 95 percent in the last two months. The biggest thing 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 1,400 employees.

The CEO hoped that this would be the only cut to deal with the epidemic, with no further layoffs in the company. The company informed that the employees to be laid off will get 3 months' salary and the insurance facility will be continued till the end of this year. The layoffs by Ola make up 25 per cent of the company's workforce.

This post was published on May 20, 2020 3:18 pm

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