OYO hands out pink slips to 300 workers from renovation, operations dept

Hospitality firm OYO has laid off around 300 employees mainly from renovation and operations departments, according to sources in know of the matter.

This has been done in order to build a long-term sustainable businessas the companyhas introduced some operational changes aligned with the current business realities,the sources said.

This is in line with the company’s efforts to drive technology-enabled synergies and realign of some business functions to other verticals, leading to some redundancies across a few functions, they added.

When contacted, an OYO spokesperson said, “We have done no significant restructuring at this point in time.