Hotels chain in India to cut 2,000 jobs
India hotels chain Oyo Hotels and Homes plans to lay off 2,000 jobs by the end of January next year as part of their efforts to cut operating cost and automate processes, according to Economic Times.
The departments affected are sales, supply and operations.
The Softbank backed company claims they have set up a “meritocracy-based” performance evaluation program to help them identify poor performers after allowing them to go through a performance improvement program. But reports say that even moderate performers will not be spared the axe.
In fact, the company has already conducted its first round of layoffs after firing 120 of its 180-strong sales team in Mumbai in December and 60 of them in New Delhi and Gurgaon in August.
Oravel Stays, which owns and operates the hotels chain, has reported provisional net loss of US$33.52 million for the financial year ended March 31 due to a combination of increased operating and employee benefit expenses.