At 9 AM on the morning of 14 January, 2020, about 250 employees of budget hotel chain OYO shuffled into a meeting room in one of the company’s properties in Lucknow, Uttar Pradesh. The gathering cut across the company’s many divisions, leaving those in attendance—OYOpreneurs, as the company calls them—anxious. News had been swirling thick and fast for over a month about thousands of layoffs at OYO, and those gathered feared the worst.
OYO’s long march—retreat of the red army
For a company that long pegged its future to rampant, unceasing expansion, OYO is now hinging its survival on scaling back
Indian budget hotel chain OYO is in the headlines for large scale layoffs across the country
OYO's rampant expansion across India and overseas, along with a hiring spree led to a chaotic organisational structure
OYO is still in the throes of restructuring, with more layoffs expected in the coming months and the shutting down of unprofitable units
While the course correction could be attributed to SoftBank, employees say a growth-at-all costs culture necessitated the present scale back