Indian Ride Hailing Firm Ola Slashes 1,400 Jobs As Pandemic Decimates Demand, Postponed Plans To Expand To London | In the News

ndian ridesharing firm Ola will cut 1,400 jobs in India as the coronavirus pandemic and related lockdown has damaged its business.

Yugal Joshi, Vice President at Dallas,Texas-based consultancy Everest Group, commented: “Shared mobility services like cabs may get pushed out for six-nine months post-Covid as consumers will be hesitant to book rides. The number of trips may get curtailed. So there will be a challenge for these firms. However, the value proposition of shared mobility is very strong and it will continue as a seminal trend.”

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