OYO set to lay off 600 employees, hire 250 new staffs

600 employees from OYO’s product and engineering, corporate office, and Oyo vacation homes teams are being let go. OYO will assist with outplacement and will maintain the employees’ medical insurance for an average of further three months.

The net reduction will be about 350 after firing off 600 workers and employing 250 new personnel. This represents a total of over 10% of Oyo’s 3,700 employees.