In a sign of the things to come, cab aggregator service Ola too has announced that it would lay of 1400 of its employees. This has come as a shock to the employees as this is just the beginning of the opening of the economy. Ola's announcement of layoff comes close on the heels of both Swiggy and Zomato announcing downsizing of its staff.
Due to the recent turmoil, Ola has seen a staggering 95 per cent fall in its income. What more, even after the opening up of the economy, there appears no guarantee for the business to pick up in view of the health concerns. In view of the uncertainties, Ola has decided to remove 1400 of its employees. Already lakhs of the drivers working with Ola and their families are facing uncertain future. Ola CEO Bhavish Agrawal said that the management has done what best it could do in the given circumstances.
In view of the current crisis, transport sector is among the worst affected as the commuters seem to prefer personalized transport rather than using the vehicles from the aggregators and other travel agencies. The agencies estimate that it could take several months for the crisis to end and for the things to come to the normal.
Due to the recent turmoil, Ola has seen a staggering 95 per cent fall in its income. What more, even after the opening up of the economy, there appears no guarantee for the business to pick up in view of the health concerns. In view of the uncertainties, Ola has decided to remove 1400 of its employees. Already lakhs of the drivers working with Ola and their families are facing uncertain future. Ola CEO Bhavish Agrawal said that the management has done what best it could do in the given circumstances.
In view of the current crisis, transport sector is among the worst affected as the commuters seem to prefer personalized transport rather than using the vehicles from the aggregators and other travel agencies. The agencies estimate that it could take several months for the crisis to end and for the things to come to the normal.