Massive layoffs at OYO; More layoffs expected in coming months

Oyo has fired 5% of its 12,000 employees in China, while dismissing 12% of its 10,000 staff in India. OYO is also planning to layoff 1,000+ people in India in the next 3-4 months – citing non-performance and restructuring.

Adding to Oyo’s challenges, hotel owners in China have been protesting in front of the company’s offices, accusing the startup of violating contractual agreements.

[Via]

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