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OYO to cut 10% employee base, to let go 600 from tech and hire 250 in sales

OYO said the move is part of implementing wide ranging changes in its organisational structure. It is downsizing its product & engineering, corporate headquarters, and OYO Vacation Homes teams, while it adds people to the partner relationship management and the business development teams.

The logo of OYO, India's largest and fastest-growing hotel chain, installed on a hotel building is pictured in an alley.(REUTERS)
The logo of OYO, India's largest and fastest-growing hotel chain, installed on a hotel building is pictured in an alley.(REUTERS)
Published on Dec 03, 2022 04:07 PM IST

Oyo begins internal probe after couple secretly filmed at Noida hotel: Report

The accused duo booked the same room a week later to take the camera out that had recorded intimate moments of a couple, the police said, reported news agency PTI.

Oyo begins internal probe after couples secretly filmed at Noida hotel: Report(Reuters file photo)
Oyo begins internal probe after couples secretly filmed at Noida hotel: Report(Reuters file photo)
Published on Oct 23, 2022 11:05 AM IST

IPO-bound OYO valuation dips in private market: Report

In the week ended September 30, 2022, nearly 12.3 lakh shares of OYO were sold in the private market as compared to over 1.6 lakh shares sold in the previous week.

Last month, in a regulatory filing OYO reported a revenue of <span class='webrupee'>₹</span>1,459.32 crore in the three-month period ended June 30, 2022.(Livemint)
Last month, in a regulatory filing OYO reported a revenue of 1,459.32 crore in the three-month period ended June 30, 2022.(Livemint)
Published on Oct 05, 2022 01:53 PM IST

Oyo eyes IPO revival after reducing losses, files fresh documents before SEBI

Oyo had filed preliminary IPO documents in 2021, only to shelve the listing plan earlier this year after the prolonged pandemic hurt its growth and forced the company to cut thousands of jobs.

Oyo reported a loss of 18.9 billion rupees ($237 million) for the year through March 2022, nearly halving from the previous 12 months
Oyo reported a loss of 18.9 billion rupees ($237 million) for the year through March 2022, nearly halving from the previous 12 months
Updated on Sep 19, 2022 01:15 PM IST

IPO mania gets reality check in India after series of flops

Investors have soured on new tech offerings after the calamitous public debut of fintech firm Paytm, as well as the battering received by newly listed e-commerce operators Zomato Ltd. and Nykaa.

India’s burgeoning startup ecosystem faces a reckoning just weeks after it closed out a record year for IPOs.(Representational photo)
India’s burgeoning startup ecosystem faces a reckoning just weeks after it closed out a record year for IPOs.(Representational photo)
Published on Feb 16, 2022 10:26 PM IST
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