IPO-bound OYO to lay off 600 in its tech team, hire 250 in sales roles

These layoffs come at a time when many other large start-ups are also letting go of employees

Hospitality major OYO has announced it will downsize 10 per cent of its workforce, laying off 600 of its 3,700-employee base, primarily in tech roles. However, the company will also conduct fresh hiring of 250 members in other roles.

The company said it was “making wide-ranging changes in its organisational structure". It is downsizing its product and engineering, corporate headquarters, and the OYO Vacation Homes teams, while it plans to add strength to its partner relationship management and business development teams.

The product and engineering teams were being merged for a smoother functioning, the firm said in a statement, adding