OYO Hotels & Homes, the fastest-growing and second-largest hotel chain in the world, announced the appointment of Anuj Tejpal as the Global Chief Commercial Officer, effective September 1, 2020. Anuj will be reporting directly to Ritesh Agarwal, Founder and Group CEO, OYO Hotels & Homes. In his new role, Anuj will work with regional CEOs…
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.…
Indian hospitality unicorn OYO Hotels & Homes recently announced that it has appointed former Starbucks Chief Operating Officer Troy Alstead as an Independent Director. According to an official company statement, in his new role, Troy will play a supervisor and provide guidance to OYO Founder Ritesh Agarwal and the management on key business decisions. Before…
As the coronavirus pandemic continues to impact the lives of many people around the world in numerous ways, businesses that have seen their sales funnels and cash flows depleting are taking to strong measures to ensure that the survival and continuity of business. A good number of businesses directly or indirectly impacted are having to…
COVID-19 has impacted the global hospitality industry significantly with occupancies of various hotel chains being affected drastically. Many Indian startups in the segment are slashing salaries across levels to conserve cash and extend their runway. Indian hospitality unicorn OYO Hotels & Homes is no different than these startups affected by the pandemic. The Ritesh Agarwal-led…
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…
SoftBank, a name we all are familiar with in the startup ecosystem. From setting up the world’s biggest investment fund “The SoftBank Vision Fund” to aggressively investing in tons of startups, SoftBank has established itself as a mark in the startup economy. But all is not going well with the brand. For the past few…
The Unicorn Club is a group of new-age start-ups with a valuation above a billion-dollar. Any new start-up that emerges in the ecosystem aspires that one day it will reach this exclusive club. But not everybody is welcome. The term was first coined in 2013 by venture capitalist Aileen Lee, choosing the mythical animal to…
In an attempt to control losses and turn the business sustainable, it is observed that OYO will lay off 140 employees from its food business. These firings come after OYO last week announced the laying off of thousands of employees from its hotel business. OYO is undergoing restructuring and this has taken a toll on…
It doesn’t seem that their troubles are getting over soon. In the past few months, OYO has managed to gather a different spotlight on itself with a New York Times report on its toxic work-culture, IT raids at their Gurugram headquarters and death of a sportsperson in one of their properties last year. Adding to troubles, came the firing of thousands of its employees from China and India business.
There seems to be a trouble in paradise for the Indian hospitality unicorn OYO, as Income Tax officials “visited” its Gurugram headquarters on January 10. OYO has called this raid a “routine TDS survey”. TDS stands for Tax Deduction at Source. The seven-year-old start-up is already in hot waters with net losses widening six folds…
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…
Life insurance company Max Life Insurance, hired Charandeep David for Corporate VP, HR. Prior to this, David was associated with OYO in the role of Head of L&D. Charandeep has over 25 years of in-depth experience in L&D, talent development, change management, and knowledge transfer. She has worked with organizations such as British Airways, GE,…
OYO Hotels & Homes, the world’s leading chain of hotels, homes, and spaces has today announced the elevation of three key business leaders within the India & South Asia business. The company has elevated Sharad Saxena to Chief Supply Officer – Franchise hotels business, South Asia, Asit Biswal to Chief Supply Officer – Frontier Businesses,…