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in BUSINESSCoronavirus Lockdown: Ola to lay off 1,400 staff; CEO says revenues decline by 95% in last two months due to pandemic
After Uber made two announcements of laying off 6,500 employees in total so far, cab aggregator Ola said on Wednesday it is laying off 1,400 employees. These employees are from rides, financial services and food business as the company’s revenues have declined by 95 percent in the last two months due to coronavirus pandemic, a […] More
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in BUSINESS
Coronavirus Lockdown: Ola to lay off 1,400 staff; CEO says revenues decline by 95% in last two months due to pandemic
After Uber made two announcements of laying off 6,500 employees in total so far, cab aggregator Ola said on Wednesday it is laying off 1,400 employees. These employees are from rides, financial services and food business as the company’s revenues have declined by 95 percent in the last two months due to coronavirus pandemic, a […] More
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in BUSINESSWalmart says Flipkart’s ‘limited operations’ during COVID-19 outbreak negatively affected Q1 growth
New Delhi: Retail major Walmart on Tuesday said “limited operations” by its Indian e-commerce firm Flipkart amid coronavirus outbreak has “negatively affected growth” of its international business in the March 2020 quarter. Walmart group’s overall net sales stood at $133.67 billion during the reported period, logging a growth of 8.7 percent. Walmart International, which is present […] More
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in BUSINESS
Uber to cut 3,000 more jobs in second round of layoffs; ‘made incredibly difficult decision to reduce workforce’, says CEO in mail to employees
After Uber laid off 3,500 of its workforce via a Zoom call that lasted for a little over three minutes last week, the ride-sharing firm has now announced it is cutting 3,000 more jobs in its second round of lay offs. Uber Technologies Inc, the San Francisco-based ride-hailing company, is laying off 25 percent of […] More
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in BUSINESS
Coronavirus: Uber announces drastic cuts to secure its future
Image copyright Getty Images Uber has announced a drastic action plan to scale back its business as its losses balloon amid pandemic lockdowns. The firm said it would cut 3,000 more jobs, bringing the total reductions in recent weeks to a quarter of the workforce. It is also closing or consolidating more than 40 offices […] More
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in BUSINESS
Indian rival slams Uber’s business model
Uber’s top rival in India has some unsolicited advice for the U.S. startup: Go local. “They have a very cookie-cutter approach in terms of what the model is and how [to] force feed it into any geography,” Pranay Jivrajka, a top executive at Ola Cabs, said on the sidelines of CNN’s Asia Business Forum in […] More
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in BUSINESS
Coronavirus: Uber and Addison Lee to install protective screens
Image copyright Uber Image caption An AA engineer installing a perspex screen in a taxi for Uber Taxi firms Addison Lee and Uber have announced new safety measures as the government looks to ease coronavirus restrictions and people return to work. Addison Lee will fit perspex partition screens between drivers and passengers across its 4,000 […] More
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in BUSINESS
Uber Canada will require drivers and passengers to wear masks starting Monday
Uber Technologies Inc. will require drivers, couriers and passengers to wear masks starting next Monday as part of a new set of measures aimed at containing the COVID-19 pandemic in Canada. The San Francisco-based technology giant says drivers won’t be able to pick up customers until they have verified they are wearing a mask via […] More
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in BUSINESS
Uber mulls buying GrubHub in major consolidation of U.S. food delivery business
Uber is considering acquiring Grubhub in a deal that would give the companies control over a majority of the U.S. food delivery business, according to published reports. Ride-sharing and food delivery giant Uber Technologies Inc. approached Grubhub Inc. earlier this year with an all-stock takeover offer, The Wall Street Journal reported Tuesday, citing sources. The […] More
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in NEWSCalifornia sues Uber and Lyft over alleged driver misclassification
Photo by Justin Sullivan/Getty Images California’s attorney general and a group of city attorneys sued Uber and Lyft Tuesday, alleging that the companies misclassified drivers as independent contractors in violation of a recent law that classifies them as employees. In their lawsuit, the attorneys allege that Uber and Lyft have run afoul of Assembly Bill […] More
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Intel to Acquire Urban Transit Startup App Moovit for $1 Billion
Global chip-making giant Intel is negotiating a deal to acquire Moovit, an Israeli startup that applies Artificial Intelligence (AI) and big data analytics to monitor traffic and give transit recommendations, a media report said. Expected to close in the coming days, the deal could be worth around $1 billion, TechCrunch reported on Sunday. Following […] More
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in NEWS
Uber to start operating in green, orange zones from today: Cities covered and safety tips – tech
Following the government order of letting cab aggregators operate in orange and green zones, Uber has confirmed that it will start operating from Monday (May 4, 2020) in select regions. “If you must travel, Uber is ready to serve residents in these zones from Monday, May 4, 2020. Riders will constantly be notified with further […] More
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