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Oyo Said to Expect Revenue to Increase by 19 Percent to Over Rs. 5,700 Crore in FY23
Oyo expects its revenue in FY23 to grow by 19 percent to over Rs 5,700 crore, Founder and CEO Ritesh Agarwal said to employees at a town hall on Monday. The company's sustained growth in India, Indonesia, the US and the UK and optimisation and synergies in its European business led to better financials Agarwal is said to have told employees of the ...
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IPO-Bound OYO's 500 Employees, Ex-Staffers Buy Around 3 Crore Shares
More than 500 employees and ex-employees of IPO-bound OYO have exercised their stock options grants to purchase over three crore shares of the company
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Oyo Chief, Ritesh Aggarwal, Who Is 27, Explains Recovery Plans
Ritesh Agarwal, founder and chief executive officer of Oyo Hotels, told employees the Indian startup is making progress in recovering from the coronavirus fallout and has about $1 billion to fund operations until an initial public offering.
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SoftBank Partners With Oyo in Latin America in Move for More Oversight
SoftBank Group is taking a direct role in managing its virus-hit hospitality startup Oyo's operations in Latin America through a joint venture which will control all hotels in the region, the head of Oyo Brazil told Reuters in an interview on Friday.
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Oyo Extends Furloughs for Some Indian Employees
Oyo Hotels & Homes is extending furloughs for some Indian employees by six months, it said on Friday, as an unabated rise in domestic coronavirus cases curbs travel and hits hotel revenues.
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Hotel Chain Oyo Extends Furloughs For Some Indian Employees By Six Months
On Friday, Oyo said recovery in business was taking longer than expected following the coronavirus lockdown
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Oyo Said to Cut Pay of All Employees in India
Softbank Group-backed Oyo Hotels and Homes has cut the salaries of all employees by 25 percent for four months starting April and also sent some of its people on leave with limited benefits, according to an internal memo seen by Reuters.
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OYO Cuts India Employees Pay By 25% For 4 Months: Report
The move comes soon after OYO furloughed thousands of its international employees earlier in April after the coronavirus outbreak.
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Several Tech Startups Sack Employees Due to COVID-19 Lockdown Crisis, Experts Says Worst Is Yet to Come
Layoffs and salary cuts have happened in many tech companies like Oyo, Meesho, Vogo, Koovs, Shuttl, TripActions, Holidayme, Hopscotch, Cleartrip, RentoMojo, Fareportal, Capillary, TravelTriangle, Quikr, Droom, UpGrad, Instamojo, Drivezy, GoIbibo, Ninjacart, Curefit, HealthifyMe, and Treebo.
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Oyo Said to Lay Off 1,000 Employees in India Amid Profit Push
SoftBank-backed Oyo Hotels and Homes is laying off hundreds of employees in India, according to a source and an internal memo seen by Reuters, as the loss-making hotel chain cuts costs in pursuit of profits.
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Oyo Said to Lay Off Thousands in India and China
Ritesh Agarwal-led Indian hospitality unicorn Oyo, currently the second top unicorn after Paytm and valued at nearly $10 billion (roughly Rs. 70,760 crores) in the country, is reportedly laying off thousands of employees in India and China
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Oyo Shuts Door On Employees In India, China
According to reports, SoftBank has given Oyo a deadline of March 31, 2020 to phase out contracts or businesses, which are not EBITDA-profitable.The company has a deadline to post positive Earnings before interest, tax, depreciation and amortization (EBITDA) for its self-operated hotels and July as the deadline for positive EBITDA of its ancillary b...
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Oyo Said to List Rooms from Unavailable Hotels, Pressure Employees to Get New Listings
Oyo is found to have used ill practices and questionable tactics to grow its presence in the market of hotel chains. The New York Times claims the Gurugram-based startup has listed thousands of hotel rooms from unlicensed hotels and guesthouses.
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Oyo Denies Report Claiming It Will Cut 2,000 Jobs in India by January-End
Oyo Hotels and Homes will lay off at least 2,000 employees in India by the end of January, a report claimed, citing people close to the company.
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Oyo Said to Expect Revenue to Increase by 19 Percent to Over Rs. 5,700 Crore in FY23
Oyo expects its revenue in FY23 to grow by 19 percent to over Rs 5,700 crore, Founder and CEO Ritesh Agarwal said to employees at a town hall on Monday. The company's sustained growth in India, Indonesia, the US and the UK and optimisation and synergies in its European business led to better financials Agarwal is said to have told employees of the ...
-
IPO-Bound OYO's 500 Employees, Ex-Staffers Buy Around 3 Crore Shares
More than 500 employees and ex-employees of IPO-bound OYO have exercised their stock options grants to purchase over three crore shares of the company
-
Oyo Chief, Ritesh Aggarwal, Who Is 27, Explains Recovery Plans
Ritesh Agarwal, founder and chief executive officer of Oyo Hotels, told employees the Indian startup is making progress in recovering from the coronavirus fallout and has about $1 billion to fund operations until an initial public offering.
-
SoftBank Partners With Oyo in Latin America in Move for More Oversight
SoftBank Group is taking a direct role in managing its virus-hit hospitality startup Oyo's operations in Latin America through a joint venture which will control all hotels in the region, the head of Oyo Brazil told Reuters in an interview on Friday.
-
Oyo Extends Furloughs for Some Indian Employees
Oyo Hotels & Homes is extending furloughs for some Indian employees by six months, it said on Friday, as an unabated rise in domestic coronavirus cases curbs travel and hits hotel revenues.
-
Hotel Chain Oyo Extends Furloughs For Some Indian Employees By Six Months
On Friday, Oyo said recovery in business was taking longer than expected following the coronavirus lockdown
-
Oyo Said to Cut Pay of All Employees in India
Softbank Group-backed Oyo Hotels and Homes has cut the salaries of all employees by 25 percent for four months starting April and also sent some of its people on leave with limited benefits, according to an internal memo seen by Reuters.
-
OYO Cuts India Employees Pay By 25% For 4 Months: Report
The move comes soon after OYO furloughed thousands of its international employees earlier in April after the coronavirus outbreak.
-
Several Tech Startups Sack Employees Due to COVID-19 Lockdown Crisis, Experts Says Worst Is Yet to Come
Layoffs and salary cuts have happened in many tech companies like Oyo, Meesho, Vogo, Koovs, Shuttl, TripActions, Holidayme, Hopscotch, Cleartrip, RentoMojo, Fareportal, Capillary, TravelTriangle, Quikr, Droom, UpGrad, Instamojo, Drivezy, GoIbibo, Ninjacart, Curefit, HealthifyMe, and Treebo.
-
Oyo Said to Lay Off 1,000 Employees in India Amid Profit Push
SoftBank-backed Oyo Hotels and Homes is laying off hundreds of employees in India, according to a source and an internal memo seen by Reuters, as the loss-making hotel chain cuts costs in pursuit of profits.
-
Oyo Said to Lay Off Thousands in India and China
Ritesh Agarwal-led Indian hospitality unicorn Oyo, currently the second top unicorn after Paytm and valued at nearly $10 billion (roughly Rs. 70,760 crores) in the country, is reportedly laying off thousands of employees in India and China
-
Oyo Shuts Door On Employees In India, China
According to reports, SoftBank has given Oyo a deadline of March 31, 2020 to phase out contracts or businesses, which are not EBITDA-profitable.The company has a deadline to post positive Earnings before interest, tax, depreciation and amortization (EBITDA) for its self-operated hotels and July as the deadline for positive EBITDA of its ancillary b...
-
Oyo Said to List Rooms from Unavailable Hotels, Pressure Employees to Get New Listings
Oyo is found to have used ill practices and questionable tactics to grow its presence in the market of hotel chains. The New York Times claims the Gurugram-based startup has listed thousands of hotel rooms from unlicensed hotels and guesthouses.
-
Oyo Denies Report Claiming It Will Cut 2,000 Jobs in India by January-End
Oyo Hotels and Homes will lay off at least 2,000 employees in India by the end of January, a report claimed, citing people close to the company.
