Oyo has placed thousands of employees on leave and furloughs for up to three months in the U.S. and several other markets as the Indian budget lodging firm contends the coronavirus outbreak that has cut its revenue and demand by more than 50%. The startup’s teams in the U.S. are most impacted by the furloughs, according to a person familiar with the matter.
India’s Oyo Furloughs Thousands Of Employees As Revenue Drops By Over 50%
Manish Singh, TechCrunch
Wed, 04/08/2020 - 5:32am
Topics: u.s ritesh agarwal march china kabbage oneweb ipo masayoshi son s lightspeed partners as capex mnas india s it indian oyo agarwal softbank india wework agarwal furloughs revenue thousands of employees company year coronavirus hotel startup impacted months business million stake outbreak added markets month cut firm healthcare globally provide long-term leadership worldwide team billion
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