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Oyo just furloughed part of its workforce. Many may quit, giving it room to manoeuvre itself better.

A chunk of Oyo’s employees is under a four-month furlough, with partial payment for two months and no payment for the rest. There’s no certainty when they will resume work. Many of them could leave the company without severance benefits during this time. After Covid-19, Oyo will restart on a far smaller base compared to its size of operations earlier.
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manuptoms
20 May 2020 7 Mins Read 3 comments
A man walks past a logo of Oyo Rooms on March 9 in Mumbai. Getty Images
A man walks past a logo of Oyo Rooms on March 9 in Mumbai.
SoftBank Vision Fund’s USD18 billion loss for the financial year ended March 31 was largely attributed to Uber’s poor performance on the bourses and the unravelling of WeWork. The struggles of its other prominent investee company, Oyo, in the past six months is also seen as a reason for the fund’s mark-to-market losses among a host of its underperforming bets.
restarts operations. In sum, after Covid-19, Oyo will be a smaller company. A small but more solid base — compared to the unwieldy structure that forced the company to introspect — is not necessarily a bad thing. Along with the cash reserve it currently has — at least around USD1 billion — it should help the company manage itself well.
SoftBank Vision Fund’s USD18 billion loss for the financial year ended March 31 was largely attributed to Uber’s poor performance on the bourses and the unravelling of WeWork. The struggles of its other prominent investee company, Oyo, in the past six months is also seen as a reason for the fund’s mark-to-market losses among a host of its underperforming bets. restarts operations. In sum, after Covid-19, Oyo will be a smaller company. A small but more solid base — compared to the unwieldy structure that forced the company to introspect — is not necessarily a bad thing. Along with the cash reserve it currently has — at least around USD1 billion — it should help the company manage itself well.

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