Oyo to cut jobs in India in 2020?
Company said it "may replace candidates"
India’s Oyo Hotels and Homes reportedly plans to cut down on some 2,000 jobs in 2020.
According to a report in The Economic Times, the SoftBank-backed company plans to lay off several employees by the end of January to “save on manpower costs” and to also make some of its processes “tech enabled”.
A source told the newspaper that divisions like sales, supply and operations could account for a majority of the layoffs.
When Hotelier Middle East reached out to Oyo for a comment, a spokesperson said: "Oyo Hotels & Homes continues to be one of the best places to work for, and one of the key reasons for this has been our ability to consistently evaluate, reward and recognise the performance of individuals in a meritocratic manner, and enable them to improve their performance.
"In order to ensure this meritocracy based performance evaluation programme thrives, Oyo continuously tracks performances of the individuals and depending on the results (a grading based system) and the individual’s interests, we may replace some candidates after giving them the opportunity to go through a performance improvement programme," the spokesperson added.