Ola Cabs CEO resigns, company to axe 10% of workforce
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Hemant Bakshi, the CEO of popular ride-hailing service Ola Cabs, has stepped down from his position. This development comes amid a significant restructuring process within the company. The restructuring is in anticipation of an upcoming initial public offering (IPO), that could potentially affect up to 10% of its workforce (around 200 employees). Bakshi's resignation is effective immediately, just four months after he assumed the role.