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Oyo lays off staff as part of restructuring exercise

Oyo lays off staff as part of restructuring exercise

Hospitality firm  OYO Hotels has reportedly started to notify its staff whether they have been retained by the company or not as a part of its restructuring exercise. 

 

In a mail to the staff of Oyo in India and South Asia, the company's founder and Group CEO Ritesh Agarwal wrote 'unfortunately, some roles at OYO will become redundant as we further drive tech-enabled synergy, enhanced efficiency and remove duplication of effort across businesses or geographies'. 


He stated that asking some of colleagues to move to a new career outside of Oyo has not been an easy decision for the company. 

 

"We are doing everything we can to ensure that our outgoing colleagues receive as much assistance and support as possible through this transition". 

 

The mail, however, did not provide the exact numbers of employees that are being laid off. But, some of the media reports estimated the number at more than 2,400 and said the reason was 'right-sizing.'

 

As per Agarwal, the strategic objectives of the firm are: sustainable growth, operational and customer excellence, profitability, and training and governance. 

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