Ola follows Uber, lays off 1,400 staff as Covid-19 hits ride-hailing biz

Ola's revenue has come down 95% in the past 2 months because the disruption caused by the coronavirus.

Ride-hailing giant Ola has announced laying off 1,400 employees, or over 33 per cent of its workforce, as Covid-19 continues to pound the transportation industry. The Bengaluru-based firm said it had to take this step because the situation was not expected to improve anytime soon.
 

“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 anytime soon. We will rather have to learn to live with the virus and resultant implications,” Ola co-founder and Chief Executive Officer Bhavish Aggarwal said in a note