In order to sustain the current crisis, Softbank-backed Oyo Hotels & Homes is extending furloughs for some of its Indian employees by six months, Oyo said. The move is in line with the rising coronavirus cases in the country, creating uncertainty on the reopening of hotels in the near future. “Recovery in business was taking…
The hospitality sector is one of the most affected by the ongoing coronavirus pandemic. With travel of any kind coming to a halt and governments imposing lockdowns, companies in the sector are bracing for severe impact. Recently, there has been multiple reports about layoffs and furloughs in the industry by the companies to save cost.…
As per the International Labour Organisation’s prediction, the world will witness a loss of about 2.5 million jobs due to the coronavirus pandemic. Most of these job losses are coming from new-age startups and small scale industries who are being tested the most by the economic situation. After hospitality startups like Treebo and Fab Hotels,…