Ola Cabs to lay off 10% of workforce, CEO steps down

Hemant Bakshi’s departure four months into the job comes amid a restructuring exercise at the ride-hailing company.

Ola Cabs is laying off 10% of its employees as it bids farewell to CEO Hemant Bakshi, Moneycontrol reported on Monday. 

Bakshi departs the ride-hailing firm barely four months after he took over the role in January. Meanwhile, the company-wide layoffs will affect about 200 employees, an Economic Times report said. The Moneycontrol report added that the restructuring exercise comes owing to “cost advantages” from artificial intelligence-related investments. 

“We have made substantial investments in the areas of AI & Technology which has led to significant cost advantages...certain roles within the company will get redundant,” the Moneycontrol report quoted an internal …


Diti Pujara

Diti is a copy editor at The Morning Context. She joins us from Deccan Herald where she oversaw the daily news coverage in the digital vertical as a chief sub-editor. She also managed social media and contributed to data stories and film analysis. Before DH, she was with Reuters as an online producer.

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