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News Details

Oyo Axes Staff and Pares Back Ambitions: Where Does It Go From Here?

O.

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Oyo's founder Ritesh Agarwal on Monday sent an internal note to all its India employees confirming that the budget hotel chain was laying off staff.

He also offered a new roadmap for the embattled company for 2020 and beyond. The priorities outlined are telling on where Oyo has gone wrong, and beg the question: Will this go down as a dark chapter in Oyo's history, or will Oyo be history?

The note did not say how many staff would be let go, but an Oyo insider told Skift "at the moment it would be over 1,000 in India, 600 in China, and very few in other markets."