According to recent reports, OYO has made an announcement regarding cutting 600 jobs in the technology and verticle fields and hire approximately 250 members in relationship management teams. Read the entire article to learn mote about this news piece.
About the teams
Oyo founder and group CEO Ritesh Agarwal said, “We will be doing all that we can to ensure that most of the people we are having to let go, are gainfully employed. Every member of the Oyo team and I myself will proactively endorse the strength of each of these employees.”
“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 percent of its 3700-employee base, which includes fresh hiring of 250 members and letting go of 600 employees,” the company said in a statement.
The process of downsizing is also taking place in teams that were into developing pilots or busy with the proof of concepts, but the leaders wont listen. The company is in a mood to help all the people are leaving. The company will be helping the employees with outplacement.
“It is unfortunate that we are having to part ways with a lot of these talented individuals who have made valuable contributions to the company.”
For people who do not know much about OYO, this article to help you learn more about it. The company wants the young blooming entrepreneurs to make it big in the hospitality business which is why the company provides a platform for the all the small business and hotels to showcase themselves. Since OYO is a trusted brand, the hotels on it will also be reliable and trustworthy so putting themselves out there using OYO is the best that can be done to blow up their business.
The company aims to make the lives of the people better and convenient. People do not have to worry about anything as long as they have OYO by their side. Even if the people s travelling to a city for the very first time, they will not have to worry about places to stay and eat since OYO will give you affordable options for which you can go.