Home / Companies / Start-ups /  Ritesh Agarwal asks for assistance in finding jobs for sacked employees of Oyo

Ritesh Agarwal, Founder and Group CEO, Oyo, has urged people to help in finding jobs for the sacked employees of Oyo. Recently the global travel-tech player Oyo announced that it was making changes in its organizational structure and was downsizing its product and engineering, corporate headquarters, and the Oyo Vacation Homes teams.

Ritesh Agarwal in a Linkedin post wrote,"Many talented OYOpreneurs are having to part ways with OYO & we want to ensure they receive as much assistance and support as possible.

For companies that are hiring in tech, reach out to us at talent@oyorooms.com and we will share a directory for rehiring our outgoing colleagues.

Ensuring the well-being of our employees, both during and after their tenure with us, is our top priority. I will proactively endorse the strength of these talented individuals, and support them every step of the way."

According to a company statement released on Saturday evening, OYO will downsize 10 per cent of its 3,700-employee base, which includes the fresh hiring of 250 members and letting go of 600 employees.

The hotel rooms aggregator said its product and engineering teams were being merged for smoother functioning. The downsizing in tech is also happening in teams that were developing pilots and proof of concepts such as In-app Gaming, social content curation and patron-facilitated content.

The company said additionally, members of projects which have now been successfully developed and deployed such as 'Partner SaaS' were being either let go or being redeployed in the core product and tech areas such as artificial intelligence (AI)-driven pricing, ordering and payments.

The company will be adding 250 members primarily in its relationship management teams to ensure better consumer and partner satisfaction and in business development teams to help scale up the number of hotels and homes on its platform, according to the statement.

As the integration of various functions of its European vacation homes business progresses, the company said it is downsizing some parts of the business to increase efficiency and harness synergies. The company has also reassessed its corporate headquarters' base afresh and is merging congruent roles and flattening team structures where needed.

The company would be helping as many employees as it can in the outplacement and continuing with their medical insurance coverage ranging between three months on average, according to the statement.

*with inputs from agencies

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