MUMBAI : Last week, in a video message to Oyo employees, the company’s 26-year-old founder Ritesh Agarwal admitted that its revenues had plunged by “over 50-60%" in recent weeks, and that its cash “runway has come under severe stress." In response to this crisis brought about by the covid-19 outbreak, he said Oyo will reduce “every controllable cost," cut capital expenditure and abandon its pursuit of acquisitions.

But Oravel Stays Pvt. Ltd, or Oyo, which had already cut more than 5,000 jobs in recent months, does not “intend" to fire more people, Agarwal reassured the company’s 25,000-strong workforce. “Oyo will emerge stronger and more resilient after this crisis," Agarwal said.

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Canadian protesters continue to occupy key trade bridge

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Queen 'will return to work next week' suggesting she hasn't caught Covid

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Trucker protests: Demonstrators gather in Ottawa for 3rd weekend in a row

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Fledgling Chapelhall FC are boosting players' mental health in county village

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‘Increasingly severe’ penalties for convoy protesters who break law, feds warn

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Doug Ford Justin Trudeau Canada county Ontario city Ottawa city Ontario county Windsor Twitter Provident

Navy seizes 2 Indian trawlers and detains 12 Indian fishermen for illegally entering Sea of Sri Lanka

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12.02.2022 / 23:15

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Injunction granted to prevent protesters from blocking Ambassador Bridge

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Quebec reports 28 more COVID-19 deaths, logs 71 patient drop in hospitalizations

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Ritesh Agarwal Japan city Tokyo pandemic stars travelers Coronavirus

OYO starts furloughing in US, select markets; India to be unaffected

NEW DELHI : Hospitality firm OYO on Wednesday said it has started placing its few employees on furloughs or temporary leaves in the US and other select markets on account of slump in the hospitality industry due to COVID-19 pandemic. The company said that India remains unaffected till the lockdown period.

Ritesh Agarwal city New Delhi Usa India hospital Government crisis travelers

United States	Cases: 46 252 513 Deaths: 750 423 Recovered: 0
India	Cases: 34 321 025 Deaths: 459 652 Recovered: 0
Brazil	Cases: 21 835 785 Deaths: 608 235 Recovered: 0
United Kingdom	Cases: 9 215 683 Deaths: 141 607 Recovered: 0
Russia	Cases: 8 494 589 Deaths: 237 619 Recovered: 0

In a post-covid world, Oyo runs out of room

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