New Delhi. Hospitality firm OYO is planning to remove more than 1,000 people in India as part of its restructuring and restructuring of businesses. In an internal mail to Oyo employees in India and South Asia, the company’s founder and group CEO Ritesh Aggarwal said that asking some associates to move into a new career outside OYO is not an ‘easy decision’. Although the mail has not provided the number of those to employees, sources with knowledge of the case have reported the number to be over 1,000 and the reason is ‘right-size’.
He said that the organization has been streamlined by aligning the business lines and removing duplication of efforts in some of the manual processes every day. OYO as an organization is strong with its people — not just customers.
Aggarwal said that one of the new strategies of 2020 is to restructure the leadership team. Among the company’s strategic objectives are sustainable development, operational and customer excellence, profitability, and training and governance. He said that we are asking some of our affected colleagues to move out of OYO into a new career. This is not an easy decision for us. Aggarwal said that OYO is doing everything to ensure that the outgoing partners get as much help as possible.
He said, “Every OYPNPR is important for Oyo and ensuring our well-being during and during his tenure is our number one priority. I want to thank them for their efforts and apologize for the impact this has caused, seeing many of our colleagues successfully in more meaningful roles within OYO.
