Employees of the hotel industry’s famous company Oyo are at stake. Oyo, which gained a big name in the hotel industry has now started the removal of employees. The company is retrenching employees in China and India, with a large number of employees getting laid off. Oyo is going to reduce 2,400 employees alone in India. Ritesh Aggarwal, founder and CEO of Oyo gave this information by sending a mail to the employees. According to media reports, these layoffs could happen in the next few weeks.
A company official said that OYO is preparing to start its operations in India and China in a new way, due to which thousands of employees will get removed. This will result in a reduction of 20% of some of its employee strength. The company’s CEO Ritesh Agarwal said in an internal e-mail that this is a part of the new strategic objective for 2020.
Earlier, a Bloomberg report claimed that the company had removed 5 percent of its employees in China. These employees are excluded based on their performance. At the same time, 12 percent of the 10 thousand employees working in India got removed. The units which got retrenched include Sales, Supply and Operation. Apart from this, 24100 other employees will also be laid off in the coming three to four months. Recently Oyo also faced a backlash from hotel chains due to payment delay.
OYO marking its dominance in Hotel Chain Industry
Recently, Oyo’s official statement said that we want to be a company where working is the best experience, that is why we keep assessing the ability and efficiency of the workers. OYO claims itself to be the world’s third-largest hotel chain in terms of the number of rooms. Currently, the hotel chain claims to have 8,50,000 rooms with 23000 Oyo brand hotels. The firm said in a statement that in six years it has increased its presence to more than 800 cities.