Thousands Losing Jobs as Oyo Rooms Firing Staff For Underperformance
More job losses are on the pipeline in India. Underperformance has been shown as the reason. Employees have been laid off from two teams: Partner-facing experience team and business development functions.
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New Delhi: Oyo Rooms, one of the largest startups, is firing thousands of staff across China and India, claimed reports. However, the number of pink slips handed out in India is higher. About five per cent of its 12,000 employees in China have been sacked while in India Oyo has dismissed 12 per cent of its 10,000 staff. More job losses are on the pipeline in India. Underperformance has been shown as the reason. Employees have been laid off from two teams: Partner-facing experience team and business development functions.
Recently, Rohit Kapoor has taken over the reins of Oyo's South-East Asia Region as their CEO, as Aditya Ghosh, the earlier CEO, has been elevated to the board.
"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 allowing them to go through a performance improvement programme," OYO said in an earlier statement.
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