NEW DELHI : With its business being down by 95% in the last two months due to coronavirus-induced lockdown, Ola today announced that it will have to fire 1,400 employees.
In an email to staff, Ola CEO Bhavish Aggarwal said the startup's revenue is down by 95% in the last two months and the prognosis for business is now "very unclear and uncertain".
He said the impact of this crisis is "definitely going to be long-drawn for us". "The fallout of the virus has been very tough for our industry in particular.
Our revenue has come down 95 per cent over the past 2 months. Most importantly, this crisis has affected the livelihoods of millions of our drivers and their families across India and our international geographies," Aggarwal said.