The Corona epidemic has hit the economy in the trough, and the damage to the economy is snatching away the jobs of people. Meanwhile, Ola has quit her 1400 employees.
The Ola Company has lost 95 percent of its revenue due to the Corona epidemic. To which the company’s CEO Bhabes Agarwal said that due to the coronavirus epidemic, in the last two months, there has been a 95% decline in the income of the passenger, financial, and food business. And because of this, the company is laying off its 1400 employees. Aggarwal made it clear that the future of the business is very uncertain and untested. And of course the impact of this crisis will remain on the company for a long time.
In his email, Agarwal wrote that mobility will be needed as economic activities return but standards will change. In this crisis, the demand for digital commerce and e-mobility will increase and our business will be fully prepared to take advantage of these standards.
This announcement of Ola has come at a time when Uber, the company providing international online cab Seba, has announced to remove more than 6000 employees. While Swiggy and Jomoto, which provide app-based online food delivery, have also decided to lay off employees. Uber plans to lay off 3,000 more employees at the global level. In May, Uber announced a layoff of 3700 employees. Uber has planned to close its offices in about 45 locations. In the next 12 months, Uber may also close its Singapore office.
The business of online service companies has been badly affected during the lockdown. Because of the spread of infection, the cab services are closed. After the exemption in Lockdown 4.0, cab services company Ola resumed services in 160 cities.