Oyo is one of the biggest hotel services in India and the new CEO is onto some big changes in the company. Recently, the reports have mentioned that he is going to fire around 2000 people from the company.
Another big news is that due to a lot of complaints from the partners, Yahoo Japan has ended its partnership with Oyo. Let’s find out more about the same.
Oyo Is About To Release 2000 Employees
As the Oyo business is facing a downfall, around hundreds of hotels in India have logged off from Oyo. Due to this, a lot of loss is being faced by the company and now it has decided to fire around 2000 people for various reasons. One of them must be cost-cutting.
A lot of releases are expected to happen from a partner-facing experience team as well as business development functions. For this, a performance improvement event will occur in which they will analyze the performances of the individuals working in Oyo. Then, the replacements will take place.
Yahoo Japan’s Dead Partnership With Oyo
Yahoo Japan began its partnership with Oyo in March 2019 by purchasing a 30% stake in its Japan outlet called Oyo life. They did not even complete 8 months and have already ended it as the real estate owners were having a considerable amount of complaints.
In November, Yahoo Japan sold the shares back again and ended it completely. Let’s see what happens next.
