Oyo Hotels, a SoftBank-backed firm valued at $10 billion, is cutting 5,000 jobs as it restructures to focus on profitability. The India-based startup, which provides a mobile app that allows guests to book hotels while charging the hotel owners a fee, said its workforce would decrease 17 percent to 25,000 employees, Bloomberg reported. The layoffs are in addition to more than 1,000 cuts made last month at its India operation. The company reportedly said the
source https://therealdeal.com/2020/03/04/softbank-backed-oyo-slashes-staff-eyes-profitability/
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