Ola Cuts 1,400 Jobs Following 95% Revenue Slump Amidst Coronavirus Lockdown
Ola Cuts 1,400 Jobs Following 95% Revenue Slump Amidst Coronavirus Lockdown Ola has announced that it is cutting 1,400 jobs in Indiafollowing a massive decline in revenues amidst the coronavirus lockdown. In an email sent to all company employees on Wednesday, Ola’s co-founder and CEO, Bhavish Agarwal, said that the ride-aggregator is laying off 35 percent of its workforce in India because of the impact of thecoronavirus pandemic. According to Agarwal, the company’s revenues have fallen 95 percent over the past two monthsbecause of the nationwide lockdown....