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OYO announces pay cut for Indian employees

Pramod Thomas
By Pramod ThomasApr 22, 2020
Pramod Thomas
Pramod Thomas is a senior correspondent with Asian Media Group since 2020, bringing 19 years of journalism experience across business, politics, sports, communities, and international relations. His career spans both traditional and digital media platforms, with eight years specifically focused on digital journalism. This blend of experience positions him well to navigate the evolving media landscape and deliver content across various formats. He has worked with national and international media organisations, giving him a broad perspective on global news trends and reporting standards.
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OYO Hotels and Homes becomes the latest firm in India to announce a pay cut due to the ongoing COVID-19 crisis.

The softbank-backed company has cut the salaries of all employees by 25 per cent for four months starting April.

Besides, it sent some of its workers on leave with limited benefits, reports Reuters.

Rohit Kapoor, chief executive of OYO, said, "Our company is taking a difficult but necessary step for India, whereby we are asking all OYOprenuers to accept a reduction in their fixed compensation by 25 per cent".

Some employees will also be placed on leave with limited benefits from May 4 and until August, Kapoor said.

Earlier in April, OYO furloughed thousands of its international employees after the COVID-19 outbreak brought global travel to a halt.

Globally, the hospitality sector is witnessing a severe crisis due to the pandemic.

oyo hotels and homesoyo india

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