Pedestrians walk past an Oyo hotel in Tokyo. The start-up is placing thousands of employees on indefinite leave in a bid to survive the coronavirus pandemic. Photo: Bloomberg
SoftBank-backed Indian start-up Oyo furloughs thousands of employees to survive coronavirus pandemic
- The Indian budget lodgings service is one of the largest in SoftBank’s portfolio and Oyo’s move is the latest setback for Masayoshi Son
- Oyo founder Ritesh Agarwal said tough decisions are necessary to survive the pandemic and assured workers no jobs would be cut anywhere in the globe
Pedestrians walk past an Oyo hotel in Tokyo. The start-up is placing thousands of employees on indefinite leave in a bid to survive the coronavirus pandemic. Photo: Bloomberg
