OYO has offloaded 150 employees to research and consultancy firm KPMG as it looks to shed workforce outside its core focus areas.
It is now planning to let go of employees in ancillary units, like financed shared services, to focus on its core sectors such as hotel onboarding.
“OYO’s core expertise lies in being a technology and revenue growth brand for owners and operators of small hotels and homes. OYO’s financial shared services teams primarily worked on transaction processing covering payables and receivables management, travel and expenses, and other related routine financial operations. And we believe these are best run by companies that have proven expertise and experience to do so,” an OYO spokesperson told Moneycontrol, which first reported the development.