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Indian ride-hailing firm Ola cuts 1,400 jobs

Ola said on Wednesday it is cutting 1,400 jobs in India, or 35% of its workforce in the home market, as the ride-hailing firm works to reduce its expense to steer through the coronavirus pandemic that has severely impacted mobility companies in the country.
Bhavish Aggarwal, co-founder and chief executive of Ola, shared the job elimination update with the team in an email today, in which he also revealed that the company’s revenue had dropped by 95% in the last two months as India enforced a stay-at-home order for its 1.3 billion citizens in late March.
An Ola spokesperson told TechCrunch that only employees working in mobility and food operations were impacted and that the job cuts were limited to teams in India. Ola Electric, a separate entity of the ride-hailing firm, remains unaffected of the layoffs.
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