Oyo

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Oyo - Total results - 71
Oyo announces ESOPs of Rs 130 cr for all furloughed employees impacted by COVID-19; forms exigency fund for staff
Business

Oyo announces ESOPs of Rs 130 cr for all furloughed employees impacted by COVID-19; forms exigency fund for staff

On 8 April, Oyo founder and Group CEO Ritesh Agarwal had said in a letter and video message that the company will place a certain number of employees on furloughs or temporary leaves, globally.

OYO takes measures to mitigate COVID-19 impact, offer quality hospitality experience
Business

OYO takes measures to mitigate COVID-19 impact, offer quality hospitality experience

Hospitality firm OYO on Tuesday said it is taking several measures to minimise the impact of COVID-19, and innovating to meet new standards of good quality hospitality experience at its hotels

Some Indian companies with Chinese investments indulge in predatory strategies: Think tank
Business

Some Indian companies with Chinese investments indulge in predatory strategies: Think tank

Chinese investors hold stakes in 18 of the 30 Indian startup unicorns, and some companies backed by them indulge in "predatory" behaviour, which needs to be brought under scrutiny, a domestic think tank said on Thursday

OYO asks some India employees to go on leave with limited benefits, cuts fixed pay of all by 25%
Business

OYO asks some India employees to go on leave with limited benefits, cuts fixed pay of all by 25%

OYO on Wednesday asked some of its staff in India to go on leave with limited benefits from 4 May for four months, and also asked all employees in the country to accept a cut in their fixed salaries by 25 percent due to the impact of the COVID-19 on the hospitality industry

Coronavirus Outbreak: Oyo supports asset owners as occupancy plunges after extension of lockdown
Business

Coronavirus Outbreak: Oyo supports asset owners as occupancy plunges after extension of lockdown

A total of Rs 24 crore discounts have been offered to over 3,000 Oyo partners to lessening the burden of payments due and accrued.

Coronavirus Outbreak: Oyo starts furloughing in US, select markets to reduce costs; India to be unaffected till lockdown
Business

Coronavirus Outbreak: Oyo starts furloughing in US, select markets to reduce costs; India to be unaffected till lockdown

Oyo can keep job cuts at bay through a combination of lowered work weeks, pay cuts, temporary leave of absence until business recovers and other such measures, he added.

Paytm teams up with over 300 hotels in 60 cities; offers temporary accommodation for healthcare professionals fighting COVID-19
Business

Paytm teams up with over 300 hotels in 60 cities; offers temporary accommodation for healthcare professionals fighting COVID-19

Healthcare professionals can go, select and book a hotel on the Paytm app and check-in using a valid identity proof to avail of a special rate. The rooms in these hotels are specially designated for medical staff.

Oyo Hotels founder Ritesh Agarwal becomes world's second youngest self-made billionaire with personal wealth of $1.1 bn
Business

Oyo Hotels founder Ritesh Agarwal becomes world's second youngest self-made billionaire with personal wealth of $1.1 bn

In India, Agarwal is the richest self-made Indian below 40 years of age while Zerodha founders— Nithin Kamath, Nikhil Kamath—both in their 30s, are among India's richest young self-made billionaires.

Kashmiri student says father, sister denied Oyo room based on identity; hotel claims orders from Delhi Police, cops deny it
India

Kashmiri student says father, sister denied Oyo room based on identity; hotel claims orders from Delhi Police, cops deny it

Delhi University student Nauman Rafiq took his father and sister, who'd come all the way from Jammu and Kashmir to visit, to Asha Residency, an Oyo registered four-star hotel in Vijay Nagar near North Campus. But to his dismay, the hotel refused to allow them to stay

Entrepreneurs should not make the unicorn status the measure of their success, says InfoEdge co-founder
News & Analysis

Entrepreneurs should not make the unicorn status the measure of their success, says InfoEdge co-founder

Startups should aim for customer satisfaction, unit economics, profitability, and not unicorn status.

Oyo adds over 4,000 corporate accounts in 2019; witnesses 80% rise in revenue on strong growth trajectory
Business

Oyo adds over 4,000 corporate accounts in 2019; witnesses 80% rise in revenue on strong growth trajectory

The revenue of corporate channel for the calendar year 2019 stood at Rs 459 crore, Oyo said.

Oyo plans to lay off over 2,400 employees in India as part of cost-cutting measures; yet another resizing move likely in March
Business

Oyo plans to lay off over 2,400 employees in India as part of cost-cutting measures; yet another resizing move likely in March

Early this week, there were reports that Oyo was planning to let go over 1,000 people in India as part of its restructuring and reorganisation of teams across businesses and functions to trim redundancy.

Oyo layoffs: After announcing job cuts, Oyo under pressure from Softbank to curb operating losses
News & Analysis

Oyo layoffs: After announcing job cuts, Oyo under pressure from Softbank to curb operating losses

Ritesh Agarwal, the company’s chief executive, said Oyo was focused on sustainable growth and profitability — which meant layoffs.

OYO to lay off over 1,000 people in India as part of restructuring across businesses, functions to trim redundancy
Business

OYO to lay off over 1,000 people in India as part of restructuring across businesses, functions to trim redundancy

Hospitality firm OYO is planning to let go over 1,000 people in India as part of its restructuring and reorganisation of teams across businesses and functions to trim redundancy

Oyo CEO Ritesh Agarwal hints at more layoffs to drive sustainable growth; around 1,000 Indian employees to lose jobs
News & Analysis

Oyo CEO Ritesh Agarwal hints at more layoffs to drive sustainable growth; around 1,000 Indian employees to lose jobs

The focus of Oyo and Agarwal for 2020 will be on sustainable growth, operational and customer excellence, profitability, and training and governance.

Investments in Indian tech startups grew 18% in 2019; Delhi-NCR, Bengaluru account for lion's share of funds: Report
Business

Investments in Indian tech startups grew 18% in 2019; Delhi-NCR, Bengaluru account for lion's share of funds: Report

Globally, the total funding for technology startups is estimated to have dipped by 22 percent to $293 billion from $375 billion in 2018, with a 27 percent drop in deals

Oyo Rooms accused of questionable practices, toxic culture and fraud by former employees, hotel partners
News & Analysis

Oyo Rooms accused of questionable practices, toxic culture and fraud by former employees, hotel partners

Oyo has also imposed extra fees on hotels and declined to pay the hotels the full amounts they claimed they were owed, according to interviews

Oyo likely to cut 2,000 jobs in India by end-January as part of cost-cutting, technology addition measures
Business

Oyo likely to cut 2,000 jobs in India by end-January as part of cost-cutting, technology addition measures

Last month, Oyo’s internal projections showed it may not make a profit in India and China until 2022, even as the India-based hotel chain revealed a six-fold rise in losses during fiscal year 2019.

Oyo elevates India and South Asia CEO Aditya Ghosh to board of directors
Business

Oyo elevates India and South Asia CEO Aditya Ghosh to board of directors

Hospitality firm OYO on Monday said it has elevated Aditya Ghosh, currently chief executive officer (India & South Asia) for the hotels and homes business, as a member of its board of directors