After Swiggy & Zomato, Ola announces bad news
Wednesday, May 20, 2020 • Tamil
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Ola Chief Executive Officer Bhavish Aggarwal on Wednesday delivered a bad piece of news to his employees. The CEO said that the cab aggregator will lay off 1,400 employees due to the depleting revenues in times of Covid-19.
"The spread of coronavirus has significantly dented our revenues," PTI has quoted the CEO as saying. In the letter, he stated that revenue is down by 95% in April and May. "The situation is unclear and uncertain," he further notes.
Just on Monday, the food delivery company Swiggy retrenched 1,100 employees, which accounts for 14% of its total workforce.
Earlier in the month, Zomato laid off 13% of its workforce.
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