OYO to Lay Off 600 Employees

New Delhi: OYO, a major name in the Country’s hospitality sector declared on Saturday that it will be downsizing 10 per cent of its workforce.

The company plans to lay off 600 of its existing 3700 employees. OYO will however recruit 250 fresh employees.

In a statement, the company said, “OYO is downsizing its product and engineering, corporate headquarters and the OYO vacation homes teams, while it adds people to the partner relationship management and the business development teams.”

“OYO will downsize 10 per cent of its 3700-employee base, which includes fresh hiring of 250 members and letting go of 600 employees,” the statement added.

According to the hospitality company, “the downsizing in tech is also happening in teams which were developing pilots and proof of concepts such as in-app gaming, social content curation and patron-facilitated content”.

The company will be adding 250 members primarily in its relationship management teams to ensure better consumer and partner satisfaction and in business development teams to help scale up the number of hotels and homes on its platform.