SoftBank took a step and backed OYO and declared with some of the guideless which stated pay cuts and leave with certain limited benefits for its entire staff in India.
Rohit Kapoor, who is the CEO of the company, mailed to all of its employees asking to accept a decreased reduction in their fixed salary compensation by 25%, which would effective for the period of April – July 2020.
Kapoor also revealed that the company had made a hard decision at the time of this situation that some of the employees would remain on the leave period with some of the additional benefits being provided to them from the 4th of Mat for four months. The company has also confirmed the developments.
The employees who will be going on leave will be availing some of the benefits such as continuation in parental insurance, school fee, their medical insurance, and supports in ex-gratia.
Kapoor has also ensured that in case the employee needs help in an unforeseen medical emergency, OYO will come forward and help these employees beyond the insurance amount.
OYO, as of now, did not come up with any sure figure for the employee who would be going on leave. On the 25% pay cut measures, Kapoor stated that action would be planned in a proper way after the post proposed pay cut. This would make sure that a greater group of employees at a lower pay scale would not face any problem.