Ola Cabs CEO Hemant Bakshi Steps Down, Company to Lay Off 10 Percent Staff

Ola Cabs CEO Hemant Bakshi quit from his position just four months after taking the job while the firm is undertaking a restructuring exercise that could result in at least 10 per cent job cuts, Moneycontrol reported citing people in the know. Hemant Bakshi joined the ride-hailing firm in January and an unnamed source said as per the report, “With this restructuring, certain roles within the organization will be rendered redundant and could impact as much as 10% of the workforce.”

Ola Cabs layoffs: Hemant Bakshi joined the ride-hailing firm in January.

While another said as per the report, “Ola Cabs’ CEO Hemant Bakshi would be moving out of Ola to pursue interests and opportunities outside of the company...Aggarwal will be looking after and there will be a new appointment soon.”

This comes just a few weeks after Ola Cabs initiated preliminary discussions with investment banks for an IPO, it was reported. In the past one month, Ola Cabs has made many new appointments including Kartik Gupta as the CFO (ex P&G) and Sidharth Shakdher as the CBO (ex Hotstar).