Oyo’s Global Downsizing Hits U.S. as One-Third of Staff Is Fired in Biz Model Shift
If the cliché "no pain, no gain" applies to disruptor Oyo, then the chain is clearly in the pain part of that equation. The brand has definitely taken a huge reputation hit that will play out for months. There are certainly positives in Oyo's renewed value proposition to many properties if the chain doesn't trip over itself.
In a business model shift with parallels to changes in its global strategy, Oyo this week laid off around 360 U.S. staff — more than one-third of the total — as it moves away from growth at all costs to a more balanced approach.
The layoffs, Skift has learned, took place across numerous job categories, including business development managers, talent acquisition leads, and area general managers. Business development, or sales, roles were particularly hard hit — California lost more than 50 business development managers, Florida saw more than 20 firings in that category.