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Employee Downsizing at OYO in 2020 |
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| In the Global Leadership Meet of OYO in 2019, new strategic objectives for 2020 were formulated and it was decided to reorganize business and functions to attain sustainable growth and profitability. The primary objectives of the company were to achieve sustainable growth and attain profitability by increasing efficiency and reducing operating costs. OYO also planned to offer proper training and governance to its employees whom it called OYOpreneurs that would increase their productivity... |
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| In the wake of the coronavirus outbreak in December 2019 in China, OYO faced a drop in bookings in the country, its largest market outside India. As a result, it cut down its staff by about half. Giving details about the impact of the coronavirus on OYO, Rohit stated,. |
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Exhibit I:OYO CEO’s Letter to Employees Explaining the Rationale behind the Restructuring
Exhibit II: Products & Services of OYO
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