Hospitality major OYO plans to fire 600 employees across its technology and product teams and hire 250 to its business management teams, the company has confirmed in a statement on Saturday.
OYO is merging its product and engineering teams for smoother functioning, according to the company. "OYO is downsizing its product and engineering, corporate headquarters and the OYO vacation homes teams, while it adds people to the partner relationship management and the business development teams," the company said in a statement.
📲 OYO Layoffs: IPO-Bound OYO Trims 10% of Its Workforce, Aims 250 New Hires.
IPO-bound travel tech firm OYO today announced it will downsize about 10 per cent of its 3,700-employee base by cutting 600 jobs in the technology and corporate verticals and hiring 250 members, primarily in the relationship management teams.