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OYO To Lower Pay Of All Staff In India: Report

OYO Cuts India Employees Pay By 25% For 4 Months: Report

Some staff may also be positioned on depart with restricted advantages from Might 4.

Softbank Group-backed OYO Resorts and Properties has lower the salaries of all staff by 25 per cent for 4 months beginning April and in addition despatched a few of its folks on depart with restricted advantages, in accordance with an inner memo seen by Reuters.

The transfer comes quickly after OYO furloughed hundreds of its worldwide staff earlier in April after the coronavirus outbreak introduced international journey to a halt, wreaking havoc within the hospitality sector.

“Our firm is taking a troublesome however needed step for India, whereby we’re asking all OYOprenuers to simply accept a discount of their mounted compensation by 25 per cent,” the corporate’s Chief Govt Rohit Kapoor mentioned in a observe on Wednesday,

Some staff may also be positioned on depart with restricted advantages from Might Four and till August, Mr Kapoor mentioned.

OYO didn’t instantly reply to a request for remark.

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