Ola Cabs Fires 10% Workforce, CEO Hemant Bakshi Quits

Bhavish Aggarwal-led ride hailing major Ola Cabs has laid off around 10% of its workforce, or about 200 employees, in a restructuring exercise, while its CEO Hemant Bakshi has quit the startup within months of joining, sources told Inc42. “The layoffs were in line with the company’s IPO plans and impacted employees across departments,” one of the sources said.