India's SoftBank-backed Ola to cut 35% of workforce

TOKYO -- Ola, India's biggest ride-hailing company and one in which Japan's SoftBank Group has an equity stake, will cut 1,400 jobs, or 35% of its domestic workforce, as the novel coronavirus slams India's economy.

Ola's revenues tumbled 95% in the past two months as India went into lockdown.