Ride-hailing platform Ola Cabs (Ola Cabs) CEO Hemant Bakshi has resigned just four months after assuming the post. This information was given by sources. Along with this, there is also a plan to remove about 10 percent of the employees from the company. The company is also expected to undergo a restructuring process that will affect at least 10 percent of the workforce, experts say. Last year, Ola laid off around 200 employees from its Ola Cabs, Ola Electric and Ola Financial Services verticals as part of “restructuring”.
CEO was appointed in January
In January, Ola’s parent company, ANI Technologies, appointed former Unilever executive Bakshi as the new CEO to look after the day-to-day operations of the company. According to sources, company founder Bhavish Aggarwal will take charge until the new CEO is appointed.
your business from these countries covered up
The development comes just weeks after Ola Cabs began preliminary discussions with investment banks for an initial public offering (IPO). Earlier this month, Ola had announced that it was closing all its existing global markets in the UK, Australia and New Zealand amid increasing competition. It said it will focus on the Indian market as it sees “huge expansion opportunity” in the country.
Input: IANS
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