Gembang PHKI Tinggi Tinggi, OYO Announces The Layoffs Of 600 Employees

JAKARTA - Hotel chain company, OYO Hotels and Homes Pvt Ltd announced that 600 employees had been laid off.

Workers affected by layoffs are in the company's department and technology.

"We will do everything we can to ensure that most of the people we have to get out of, get a profitable job," Chief Executive Officer Ritesh Agarwal was quoted as saying by Reuters on Monday, December 5.

To date, OYO has cut 10 percent of the total 3,700 employees and at the same time also employs 250 people.

OYO is also known to combine a team of products and techniques in combination to allow for smoother functions.

In addition, OYO also plans to streamline in technology as well as in a team that develops pilots and proof of concepts such as Games in Applications, curation of social content, and content facilitated by protectors.

Previously, OYO was reported to have suffered a loss of 3.33 billion Rupees or equivalent to Rp629.84 billion in the third quarter of 2022, while in the first quarter the loss reached 4.14 billion rupees.

amounting to 3.33 billion Rupees or equivalent to Rp. 629.84 billion he experienced in the third quarter of 2022.

Just so you know, OYO also had time to conduct an IPO in October 2021 but was eventually postponed due to market conditions at that time.