Ola Cabs CEO Hemant Bakshi resigns, reports claim - 200 people can be employed
Ola Cabs: The resignation of Hemant Bakshi, CEO of Ola Cabs, is effective with immediate effect. Bakshi joined the company in January. The reports quoted sources as saying that due to the restructuring in the company, some roles will be eliminated and due to this, 10% of the workforce i.e. around 200 people may have to face layoffs.
Muskan 
Ola Cabs CEO Hemant Bakshi resigned from his post just four months after his joining. According to media reports, the company is considering its restructuring, under which layoff of more than 10 percent of its employees is also possible.
According to the news, Bakshi's resignation has come into effect with immediate effect. Bakshi joined the company in January. The reports quoted sources as saying that due to the restructuring in the company, some roles will be eliminated and due to this, 10% of the workforce i.e. around 200 people may have to face layoffs.
The business's subsidiary Ola Electric filed its IPO proposal (DRHP) with SEBI, the market regulator, in December. The company hopes to use this IP to raise Rs 7,250 crore. It is an Indian manufacturer of electric cars (EVs).
Major investors such as SoftBank and Tiger Global support Ola Cabs, which was founded in 2010. Ola Cabs has also decided to discontinue its international operations in a few chosen nations.
