Ola Layoffs
May 2020
Ola announced a layoff affecting 1,400 employees (35% of its workforce) in May 2020. The company operates in the Transportation sector.
1,400
35%
May 20, 2020
Company Information
- Industry
- Transportation
- Country
- IN
- Region
- Bengaluru, Non-U.S.
About
In May 2020, Indian ride-hailing firm Ola laid off 1,400 employees, representing 35% of its workforce in India, as the company grappled with the severe impact of the COVID-19 pandemic. The layoffs, announced by CEO Bhavish Aggarwal, were a response to a dramatic 95% drop in revenue over two months following a nationwide lockdown that halted mobility services. The job cuts were confined to the mobility and food operations teams within India, while Ola Electric remained unaffected. Aggarwal cited the prolonged and uncertain crisis, noting that the shift in consumer behavior, including increased remote work and reduced travel, would have a long-term impact on the business. Affected employees received three months of salary and extended benefits.
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support@layoffs.nlCompany Information
- Industry
- Transportation
- Country
- IN
- Region
- Bengaluru, Non-U.S.