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OYO fired 1200 employees in India, Cutting expenses worldwide

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OYO, nowadays, is coming in the headlines due to its toxic work culture and stay issues. However, in reality, the company is trying to make the ends meet by cutting their expenses and lay-offs. Recently, the company has bid adieu to 600 employees in China and 1200 employees in India.

Getting pressurised from SoftBank, the company may have to lay-off another 1200 employees by the end of March 2020 if the situation prevails. Sources reveal that: “The company has taken this decision in the backdrop of its restructuring plans in both India and China. SoftBank had given Oyo a deadline of March 31, 2020, to phase out contracts or businesses, which are not EBITDA-profitable.”

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Author at Ludhiana Live Media. Her work combine elements of magic realism, satire and historical fiction – Based in Ludhiana and India.

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