Oyo Hotels & Homes plans to lay off 150-200 people from sales teams across the country, people familiar with the matter said.
About 60 salespeople in Oyo’s New Delhi and Gurgaon offices were the first to be fired and got their letters. A similar number is in the process of being let go in other locations including Mumbai and Pune. Those being asked to leave range from executives to managers.
“Other employees in sales are getting their letters and some will get them soon. No reasons have been given to employees in these letters. They are being given a one-month notice period,” said a person familiar with the developments.
SoftBank-backed Oyo did not confirm or deny the developments. In response to inquiries, the company said it follows a performance-oriented grading system and separates a small group of employees – about 0.5% – every month across functions and markets for not meeting expectations and targets.
“OYO India is on a strong growth trajectory and we, as an organisation, are witnessing 4.5X year-on-year growth. We are able to achieve this feat by an ever-growing and passionate team of 9,000+ OYOpreneurs in India, including our 2,500+ strong sales team,” an Oyo spokesperson said.
The spokesperson said Oyo India plans to recruit more than 3,000 people this year.
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