Oyo founder Ritesh Agarwal urges companies to hire laid-off employees

Recently, Oyo said that it was cutting 600 jobs in its corporate and technology departments

Ritesh Agarwal, founder and group CEO of Softbank-backed Indian hotel aggregator Oyo, has sought jobs for the employees laid off by the company. Recently, the company said that it was cutting 600 jobs in its corporate and technology departments.

In a LinkedIn post, Agarwal wrote, "Many talented OYOpreneurs are having to part ways with OYO & we want to ensure they receive as much assistance and support as possible. 

For companies that are hiring in tech, reach out to us at talent@oyorooms.com and we will share a directory for rehiring our outgoing colleague.

Ensuring the well-being of our employees, both during and after their tenure with us, is our top priority. I will proactively endorse the strength of these talented individuals, and support them every step of the way."

"We will be doing all that we can to ensure that most of the people we are having to let go, are gainfully employed," Agarwal was quoted as saying in a Reuters report earlier.

IPO-bound Oyo will cut 10 per cent of its 3,700-employee base, while at the same time hiring 250 people, it said in a statement.

Product and engineering teams are being merged to allow for smoother functioning, the company said, adding that downsizing in tech is also happening in teams which were developing pilots and proof of concepts such as In-app Gaming, social content curation and patron-facilitated content.

Oyo Hotels first filed to go public in October 2021 but it has delayed the share sale due to market conditions.

(With agency inputs)