Recent Highlights
All Stories for Ritesh Agarwal
Coronavirus Outbreak: Oyo starts furloughing in US, select markets to reduce costs; India to be unaffected till lockdown
• 5 years agoOyo 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.
Oyo Hotels founder Ritesh Agarwal becomes world's second youngest self-made billionaire with personal wealth of $1.1 bn
Fp Staff • 5 years agoIn 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.
Exclusive: Oyo’s Ritesh Agarwal opens up about job losses, Aditya Ghosh, governance issues, and SoftBank’s role
Sunny Sen • 5 years ago“This is the first time I am doing an interview, but I have been open all throughout.”
Oyo plans to lay off over 2,400 employees in India as part of cost-cutting measures; yet another resizing move likely in March
Fp Staff • 5 years agoEarly 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
• 5 years agoRitesh 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
• 5 years agoHospitality 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
Sunny Sen • 5 years agoThe focus of Oyo and Agarwal for 2020 will be on sustainable growth, operational and customer excellence, profitability, and training and governance.
Oyo likely to cut 2,000 jobs in India by end-January as part of cost-cutting, technology addition measures
Fp Staff • 5 years agoLast 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
• 5 years agoHospitality 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
Hotel operators who partnered with Oyo call it 'biggest online fraud', demand criminal probe against Softbank-backed startup now poised to raise $1.5 bn
Fp Staff • 5 years agoFounded in 2013, Oyo started by aggregating bookings for India’s budget hotels, promising a standard of service in a market where that was more often the exception