Do Uber, Ola’s massive layoffs indicate they may be driving off the map?

New Delhi: Uber on Tuesday said it is laying off about 600 employees in India – about a quarter of its staff in the country – as business has taken a major hit amid COVID-19 pandemic. The development comes days after rival Ola had announced laying off 1,400 people from its rides, financial services and food business.

“The impact of COVID-19 and the unpredictable nature of the recovery has left Uber India South Asia with no choice but to reduce the size of its workforce. Around 600 full-time positions across driver and rider support, as well as other functions, are impacted,” Uber India and South Asia President Pradeep Parameswaran said in an emailed response to PTI.