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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
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 …
Big AI moves in the Middle East this week, Saudi Arabia-backed LIV Golf files for bankruptcy and other updates.
As Rapido and Uber pull ahead, falling traction and mounting financial stress leave Ola with few options.
The Abu Dhabi investment firm just upped the AI stakes, private debt in the Gulf is having its moment in the sun, and other updates from this week.
