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Oyo may lay off 2,000 employees

Dec 19, 2019 by The Passage Team
Oyo may lay off 2,000 employees

Oyo Hotels and Homes is in the process of laying off about 2,000 employees pan India across functions by the end of January to save on manpower costs and make some of its processes "more tech enabled", multiple people close to the company claimed.

Divisions like sales, supply and operations will account for a chunk of the layoffs, people familiar with matters at the SoftBank-backed hotels chain told ET.

"Business has been hampered amid rising discontent among owners," one of them said. Oyo said it does not anticipate replacement of thousands of people in the near term.

In order to ensure that a "meritocracy-based" performance evaluation programme thrives, every month Oyo tracks the performance of individuals and depending on the results (a grading-based system) and the individual's interests, it may replace some candidates after giving them an opportunity to go through a performance improvement programme, an Oyo spokesperson said in response to ET's queries.

Source: Economic Times

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