Ola Cabs CEO Hemant Bakshi has resigned, and the company is set to undergo a significant restructuring, including a 10% staff reduction.

 Hemant Bakshi took over as CEO of Ola Cabs just four months ago. His resignation coincides with the company's restructuring efforts.

According to sources, the company is planning to downsize its workforce by at least 10%. Several senior executives may also face repercussions following Hemant Bakshi's departure. Bakshi's resignation comes just four months after he assumed the position in January 2024. Reports suggest that Bakshi was interested in working with another company rather than Ola. A new CEO announcement could be made soon.

The company has been experiencing significant internal changes lately. Ola Cabs has been in discussions with various investment banks about bringing in an IPO. Additionally, the company has appointed Kartik Gupta and Siddharth Shakdher as its new CFO and COO. Ola Cabs has also shut down its international operations in Britain, Australia, and New Zealand, focusing its efforts on the Indian market. The company aims to expand its services to over 100 million Indian users.

Also Read: 

• Infinix GT 20 Pro, a smartphone that could soon hit the Indian market, is poised to offer a compelling value proposition.
• Sundar Pichai joined Google as a product manager on April 26, 2004, and has been with the company for 20 years.
• Discount Alert: iPhone 14 is available at a reduced price of 24,000 rupees. The offer can be availed here.
• The forest fire in Uttarakhand has intensified in various locations due to rising temperatures.

• The Supreme Court has recently dismissed demands to revert to ballot paper voting and conduct a 100% guarantee of votes cast through electronic voting machines (EVMs) via Voter Verified Paper Audit Trail (VVPAT).

• The ongoing second phase of the Lok Sabha Elections 2024, a testament to our vibrant democracy, has seen a significant voter turnout in West Bengal and Chhattisgarh.

• The Supreme Court has reserved its decision on the demand for 100% cross-checking of Electronic Voting Machine (EVM) votes and Voter Verifiable Paper Audit Trail (VVPAT) slips.