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By PTI Dec 5, 2022 9:24:37 PM IST (Updated)
OYO said the move is part of implementing wide-ranging changes in its organisational structure. It is downsizing its product & engineering, corporate headquarters, and OYO Vacation Homes teams, while it adds people to the partner relationship management and the business development teams.
IPO-bound travel tech firm OYO on Saturday announced it will downsize about 10 percent of its 3,700-employee base by cutting 600 jobs in the technology and corporate verticals and hiring 250 members, primarily in the relationship management teams.
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OYO said the move is part of implementing wide-ranging changes in its organisational structure. It is downsizing its product & engineering, corporate headquarters, and OYO Vacation Homes teams, while it adds people to the partner relationship management and the business development teams.
"OYO will downsize 10 percent of its 3,700-employee base, which includes fresh hiring of 250 members and letting go of 600 employees," a statement said. Product and engineering teams are being merged for smoother functioning, it added.