OYO to lay off 600 people in its technology team; hire 250 in sales team

5 Dec 2022 , 10:11 AM

OYO has announced a 10% reduction in its staff, laying off 600 of its 3,700 employees, largely in technology areas.

However, the corporation will also hire 250 new employees in other positions.

The business disclosed that it was “making significant changes to its organizational structure.” It wants to strengthen its partner relationship management and commercial development teams while cutting back on its product and engineering, corporate headquarters, and OYO Vacation Homes teams.

The firm stated in a statement that the product and engineering teams were being combined for more efficient operation and that tech teams were working on pilot projects and proofs of concepts for things like in-app gaming, and social content curation.

These layoffs would probably occur over two weeks.