600 employees will be cut from the technology team and 250 people will be hired in sales


Oyo plans to lay off 600 directors from its technology and product teams as it closes projects and consolidates teams. It is hiring 250 sales executives, the company said in a statement on Saturday.

“While downsizing our Oyo product, engineering, corporate headquarters and Oyo Resorts teams, we are adding people to our partner relationship management and business development teams. Oyo will cut 10% of its 3,700 employee base, including 250 new hires and 600 layoffs,” the company said in a statement.

It is consolidating its product and engineering teams to work more seamlessly, the firm said.

“Technology layoffs are also occurring on teams that were developing proof-of-concepts and experiments, such as in-app games, social content management, and sponsored content. In addition, members of successful development and deployment projects such as Partner SaaS are being let go or moved to AI. repositioning in core product and technology areas such as based pricing, ordering and payments,” the company said.

As the integration of the various functions of the European resort business progresses, parts of the business are being cut to increase efficiency and create synergies. The company also said it is reassessing the company’s headquarters base, consolidating cross-functional roles where necessary and streamlining team structure.

It said it would help accommodate as many workers as possible and provide them with an average of up to 3 months of health insurance.

Separately, the company said it will add 250 members to its relationship management team and business development teams to help increase the number of hotels and properties on the platform to improve customer and partner satisfaction.

“We will do everything we can to keep most of the people we have to lay off gainful employment. Every member of the OYO team and myself will actively support the strength of these employees. It is sad that we are parting ways with these many talented people who have made valuable contributions to the company. As Oyo continues to grow, Some of these roles are in the future, so we promise to reach out to them first and give them an opportunity.” Ritesh Agarwal, CEO, Group, Oyo said.

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