After Zomato, wework and swiggy now Banglore based Cab company Ola has also listed under job cuts due to Corona crisis. On Wednesday due to Corona Pandemic the Cab aggregator Ola has take off its 1400 staff which was equivalent to 35 percent of workforce. The CEO and co-founder of Ola Bhavish Aggarwal has issused a note in which he says Due to Covid-19 the 95 percent of Ola revenues fall.
Here is what CEO Bhavish has said in a note for employees
Ever since my last email to you 6 weeks ago, I had hoped to write again soon in better times. Unfortunately, the COVID crisis continues to unfold all around us causing unprecedented economic and social destruction. It has also become evident that the coronavirus will not be eliminated any time soon. We will rather have to learn to live with the virus and resultant implications.
We had all hoped in the beginning that this would be a short-lived crisis and that its impact would be temporary. Over the past couple of months, all members of our extended leadership team have taken significant salary cuts to be able to help the organization delay tougher people decisions as we waited for the situation to evolve. But unfortunately, it’s not been a short crisis. And the prognosis ahead for our business is very unclear and uncertain. It is going to take a long time for people to go out and about like before……. Continued.
By the end of Next week some employees of Ola foods and Ola Financial services will be lay off. After this no job cuts will be done. CEO also noted that Ola will try to pay affected employees three month Salary. Dismissed employees medical, life and accident insurance will be continue till December 31.Under Ola Sahyog policy 2 lakh families are financially supported.
This week Uber has also announced to lay off 23 percent of its global workforce to survive in this coronavirus crisis.