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Pay cuts for all Oyo workers in India
Hotel chain Oyo is cutting pay of all 10,000 staff in India and some will be furloughed.
An undisclosed number will be sent home with ‘limited benefits’ due to the impact of Covid-19 on the hospitality industry.
They are furloughed for at least four months from May 4, 2020 and ‘we hope we will be in a position to welcome them back into full-time roles sooner rather than later,’ Oyo India and South Asia CEO Rohit Kapoor said in a memo to staff.
"Oyo is taking all necessary actions to mitigate Covid-19’s impact and ensure long-term success."
Salaries are cut by 25% for all employees for the April-July 2020 payroll.
"All other benefits and terms of your contract will remain unchanged," the memo said.
Oyo had promised not to lay off staff during India’s nationwide lockdown, but that ends on May 3 and the layoffs begin the very next day.
Thousands of employees worldwide have already been laid off this year.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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