Oyo lays off 1,000, to focus on profitability

Oyo founder Ritesh Agarwal has told staff that the company’s focus is on profitability as it is looks to balance “the speed of growth with operational capabilities” along with driving governance & leveraging technology to improve operations. The development comes as Oyo has started cost-cutting, laying off 10% of the Indian workforce, about 1,000 employees.

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