Hemant Bakshi, who served as CEO of Ola Cabs has resigned from his services. He joined the company 4 months back in January 2024.
As per the media reports, Bhavesh Aggarwal will assume responsibility for day-to-day operations, with a new appointment on the horizon to fill Bakshi’s position.
His departure coincides with the company’s announcement of a restructuring initiative, expected to impact around 10 percent of its workforce or 200 employees.
This move signals a significant shift in leadership and strategy within Ola, amidst ongoing challenges and changes in the ride-hailing industry.
As per Mint, Bhavish Aggarwal has communicated to employees over email.
“These changes will result in certain roles within the company becoming redundant. This decision was not made lightly, and we are committed to supporting those impacted during this transition period,” the email read.
“I am very confident of the strong leadership team that we have built over the last few years at Ola Consumer, who bring in a lot of experience and expertise to their respective roles. They will collaborate closely with me to drive technology-led growth,” as per the reports of Live Mint Bhavish Aggarwal said.
In 2024, the companies may resort to layoffs for various reasons including Financial Challenges, Restructuring, Technological Changes, Technological Changes, and Performance Issues. As of now so far in 2024, there have been 505 layoffs at tech companies with 112,446 people impacted (929 people per day).
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