Image Source: The Print

Agencies

Oyo Hotels, a start-up company offering budget hotel services in India and China, has shown its way out to thousands of employees. This shows that nothing is going well at the largest startup company funded by SoftBank.

Out of 12,000 employees employed in China, the company has shown an exit route. At the same time, 12 percent of the 10,000 employees employed in India have been laid off. The company will lay off 1,200 more employees in the next three months.

In Oyo, for a long time, there are employees who are not skilled in their work. The departments which have been retrenched include Sales, Supply and Operation. Those who have been removed from their jobs, there are clouds of doubt about replacing someone else in future. It will also remove those employees who are rated well before their work.

A company official said that there are many verticals in Oyo where technology is expanding and there is no need for people there. Some people in the sales team will be shifted to the customer service team or business development team. For this, people will also be given training by the company.

An employee of the company said that the annual salary of the people who will be retrenched is between Rs 10-12 lakh. Removing these people will save the company millions of rupees every year. The company had a loss of Rs 2384.69 crore in the last financial year. This is Rs 360.43 crore more than last year.