First came layoffs, now comes charity from Oyo The founder and group CEO of OYO tweeted about supporting its OYOpreneurs who have to part ways
By Paromita Gupta •
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Just three days after the hospitality chain Oyo announced the layoff of 600 employees from product and engineering, corporate headquarters and the OYO Vacation Homes teams, Ritesh Agarwal, Founder and Group CEO took to Twitter to share its small initiative to ease the process of finding new opportunities for its axed employees.
1/ Many talented OYOpreneurs are having to part ways with OYO & we want to ensure they receive as much assistance & support as possible. For companies that are hiring in tech, reach out to us on talent@oyorooms.com & we will share a directory for rehiring our outgoing colleagues.
— Ritesh Agarwal (@riteshagar) December 5, 2022
Addressing his outgoing OYOpreneurs, Agarwal offered assistance and support to help them get new opportunities. For the same, he requested companies hiring in tech roles to get in touch at talent@oyorooms.com where they will be providing a directory for rehiring the talented employees leaving Oyo in, the near future.
Furthermore, the hospitality chain's founder shared that he would personally endorse his employee's strengths and would support them at every step of the way. The step can be seen as a means to improve its public image amid the layoff, the upcoming IPO, and the ₹220 crore case filed by hoteliers for breach of contract and unpaid dues.
The Softbank and Microsoft-backed company announced its decision to go public last year and was anticipated to be listed during the festive season this year, but was futile. However, reports show the company is now planning to finally go public next year.
In its fresh IPO filing, the company disclosed that its revenue increased by 18% in FY22 to ₹4,905 crore.
