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Oyo Layoffs 600 Employees As Part Of A “Wide-Ranging” Reorganization

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Oyo Layoffs 600 Employees As Part Of A "wide-ranging" Reorganization

(CTN NEWS) – On Saturday, the hotel giant Oyo announced that it is cutting its workforce and will let go of 600 of its 3700 workers.

The business did add that it would also consider employing new employees. The business announced “wide-ranging” organizational structure modifications.

Oyo is reducing the size of its product, engineering, and vacation home teams, but it intends to grow its partner relationship management and business development teams instead.

According to the business, teams working on pilot projects and proofs-of-concept for technologies like in-app gaming, social content curation, and patron-facilitated content are also being reduced in size.

Oyo said that staff from “well-built” and implemented projects, such as “Partner SaaS,” are being fired or redeployed to the core product and tech areas like AI-driven pricing, ordering, and payments.

The corporation stated that it has also reevaluated its corporate headquarters location and is flattening team structures and consolidating similar positions where necessary.

“We will use every effort to find productive employment for most of the folks we must let go.

Each member of the Oyo team, including myself, will proactively support each of these workers’ abilities,” Ritesh Agarwal, group CEO and founder, remarked.

“It is regrettable that we have to say goodbye to many of these great people who have provided significant benefits to the business.

We promise to get in touch with them first and present them with the opportunity as Oyo develops and a demand for some of these roles arises in the future, “added he.

The company announced that it would hire 250 more employees, mostly for its relationship management teams to assure “greater” partners.

And customer happiness and for business development teams to expand the number of hotels and residences on its platform.

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