OLA Layoffs, Ola Cabs CEO Resigns: Hemant Bakshi had taken over as CEO of Ola Cabs only four months ago. Now there is going to be a big layoff in the company for restructuring.
OLA Layoffs, Ola Cabs CEO Resigns: There are going to be layoffs in Ola too. The company will lay off 10 percent of its staff. Amidst the layoffs, Ola Cabs CEO Hemant Bakshi has also resigned from his post. He joined the company only in January 2024. This is believed to be the result of the restructuring being done by Ola.
Hemant Bakshi left his post in just four months
Money Control has reported quoting sources that the company is going to make major layoffs. Due to this, at least 10 percent workforce will be reduced. After the departure of Hemant Bakshi, many big officials may be punished. Hemant Bakshi also had to leave his post in just four months. It has also been claimed in the report that Hemant Bakshi wanted to work with some other company instead of Ola. A new CEO can be announced in his place soon.
Big stir going on inside the company
There was a big stir in Ola Cabs for the last few days. The company is engaged in discussions with many investment banks to launch an IPO. Also, Ola Cabs has added many new people. Among these, Kartik Gupta and Siddharth Shakdher have become the new CBOs of the company on the post of CFO. Apart from this, Ola Cabs has also closed its international business. While closing international business from Britain, Australia and New Zealand, the company had said that it is going to keep its focus on India. The company says that it wants to provide its services to more than 100 crore Indians.
Revenue stood at Rs 2,135 crore in FY 23
The revenue of Ola Mobility Business in the financial year 2023 was Rs 2,135 crore. There was a jump of about 58 percent in this compared to the previous financial year. The company’s EBITDA in FY 2023 was Rs 250 crore positive. A year ago, the EBITDA loss in FY 2022 was Rs 66 crore.
