Ola announced that it had laid off 1400 employees after its business volumes fell by 95% in March and April 2020 due to Coronavirus-induced lockdown. The CEO, in an email to employees, underlined that the outlook for business was extremely unclear and uncertain. This is apparently a one-time exercise and will be completed during the week. The company explained that more companies are expected to have a large number of employees work from home, air travel will be limited to essential trips and vacations being put off for better times. The impact could be long drawn and hence Ola wanted to be prepared to fight the long battle well in advance. Employees will receive a minimum financial payout of 3 months of their fixed salary, irrespective of the notice period. Eligible ESOPs will vest forward to the closest quarter.