OYO Layoffs
December 2022
OYO announced a layoff affecting 600 employees in December 2022. The company operates in the Travel sector.
600
Dec 3, 2022
About
Oyo, the hospitality technology company, announced layoffs affecting 600 executives from its technology and product teams on December 3, 2022. This reduction represents about 10% of its 3,700-employee base. The company is streamlining operations by shutting down experimental projects like in-app gaming and merging teams to improve efficiency, particularly within its European vacation homes business. Concurrently, Oyo plans to hire 250 new employees in sales and partner relationship roles to strengthen its core business development and customer satisfaction efforts. The firm is offering support to affected employees, including assistance with job placement and extended medical benefits.
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