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Oyo's revenue drop 50-60% due to COVID-19 crisis, starts temporary leaves in US, other markets

Updated : April 08, 2020 06:49 PM IST

Group chief executive officer Ritesh Agarwal told employees that the company will be placing a certain number of OYOpreneurs on furloughs or temporary leaves.
Oyo had earlier this year moved to lay off 15 percent of its total workforce of 12,000 employees in the country, as part of a restructuring.
Oyo said there have been green shoots of recovery in some markets like China, Denmark and Japan.

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