Indian hotel chain OYO is planning to lay off 60% of its workforce in China as it struggles to contend with a number of setbacks, the most recent being the deadly Covid-19 virus which has immobilized the country for weeks.
The current novel coronavirus outbreak has weighed on the troubled hotel chain, which has seen widening losses as well as an increasing number of partner hotels exit and rising user complaints over the past year.
The budget hotel chain is planning to cut around 60% of its employees in China, according to a former employee of the company who asked to stay anonymous due to the sensitivity of the topic.
The layoff scale will vary by business division, from 70% to 80% of the tech team to 60% to 70% for business development teams, the source told TechNode. The employee in question had worked for more than a year at the company’s business development unit in the Shanghai headquarters.
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