Oyo Will Lay Off Most of Its Furloughed U.S. Employees

Lodging company Oyo informed U.S. employees furloughed because of the impact from coronavirus that a “large majority” of them would be laid off but receive stock options, Skift has learned.

Chief Operating Officer Abhinav Sinha, in a Wednesday email that Skift obtained, told furloughed U.S. employees that Oyo doesn’t expect a full recovery globally until the second half of 2021. (See the email embedded below.)

“We knew this crisis was real and could take time, but we were hopeful that we could leverage our global resources to re-engage after the furlough,” Sinha wrote. “However, the reality is, the impact on our business has been deeper, and the recovery has been slower than what we had anticipated.”

*Source: skift.com/2020/06/25/oyo-will-lay-off-most-of-its-furloughed-u-s-employees/