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.
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
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 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
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
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
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
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
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
Exclusive: Oyo’s Ritesh Agarwal opens up about job losses, Aditya Ghosh, governance issues, and SoftBank’s role
“This is the first time I am doing an interview, but I have been open all throughout.”
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
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
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.
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
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
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
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
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
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.
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