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. […]
Tag: oyo lays off staff
Indian hospitality unicorn OYO Hotels and Homes is reportedly cutting down its global workforce by about 5,000 to 25,000 people. The biggest downsizing will be from the company’s China business after business there is struggling in the wake of the novel coronavirus outbreak. According to a Bloomberg report, the Indian startup, which is one of […]
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 […]
After issuing pink slips to about 15-20 % of its 12,000 strong workforce earlier this month, OYO Hotels and Homes have rolled out benefits for the outgoing members. To lessen the burden of the leaving employees, OYO has offered services like outplacement, gross pay of 3.2months, personal insurance for 90 days and parental insurance of […]
Indian hospitality unicorn Oyo is planning to lay off thousands of employees from its India and China businesses. According to media reports, the company has let go of 5% of its 12,000 employees in China partly citing non-performance as the reason and dismissed 12% of its 10,000 staff in India, one of the people close […]