OYO to lay off “large majority” of furloughed U.S. employees
US: Indian hospitality chain OYO is believed to have informed those employees who have been furloughed from the company indefinitely that a “large majority” of them will not be kept on. It follows earlier reports in May that the Softbank-backed budget lodging startup was furloughing the majority of its U.S. and UK-based teams, as occupancy […]
OYO to furlough US and UK staff, considering layoffs
Worldwide: Hospitality chain OYO is planning to furlough the majority of its staff across its non-main markets of the US and the UK. The company said it would place an unspecified number of employees on furlough until lockdown measures were lifted. The company, whose net loss had risen to $335 million by the end […]
OYO announces further furlough round and 25 per cent pay cuts
India: Just a fortnight after placing the majority of its employees, or “Oyopreneurs”, on furlough or temporary leave in the United States, United Kingdom and many of the other countries in which it operates, Softbank-backed hospitality chain OYO is furloughing more employees around the world and accepting a 25 per cent pay cut for all […]
OYO places “thousands” of staff on furlough and temporary leave
Worldwide: Hospitality chain OYO Hotels & Homes has placed a “certain number” of its employees, known as ‘OYOpreneurs’, on furlough and temporary leaves “in the U.S. and other countries”, it was revealed in an internal video message recorded by CEO and founder, Ritesh Agarwal. Though Agarwal declined to mention specific numbers in the video to […]