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.…
The company plans to lay off about half of 6,000 employees from its China operations. The recent coronavirus outbreak has forced the travel industry on its knees forcing businesses to take tough measures. Indian hospitality unicorn OYO Hotels and Homes is reportedly cutting down its global workforce by about 5,000 to 25,000 people. The biggest…
Softbank-backed OYO has recently decided to lay off about 100 employees or 20% of its United Kingdom workforce. The recent development comes amid the ongoing restructuring of business at OYO. According to a report by Yahoo Finance UK, OYO was involved in a 30-day consultation with UK staff and concluded the process recently. As a…
OYO, the world’s third-largest, and the fastest growing hospitality chain of leased and franchised hotels, homes & living spaces, is likely to lay off up to 2,000 staff by February 2020 (Ref: ET) . The layoffs include sales, supply and operations employees. The layoffs are understood to be a part of the company’s measures to…