The hire-fire saga: Oyo fires 600 staff, plans to hire 250 more
Softbank-backed Indian hotel aggregator Oyo Hotels and Homes Pvt Ltd recently announced that it is laying off its 600 employees in its corporate and technology departments. At the same time, the company is recruiting 250 people.
As part of the reorganisation, Oyo’s product and engineering teams are being merged to allow for smoother functioning, according to Thomson Reuters.
The company also revealed that downsising in tech is also happening in teams that were developing pilots and proof of concepts such as In-app gaming, social content curation, and patron-facilitated content.
"We will be doing all that we can to ensure that most of the people we are having to let go, are gainfully employed," Chief Executive Officer Ritesh Agarwal said.