OYO to cut 5,000 jobs globally; China to see highest reduction

OYO Hotels would be laying off 5,000 employees from its global workforces, mostly form China where the coronavirus outbreak has foiled Oyo's expansion plans.

Would also be laying off staff in the US as well as its home country India, as it seeks to boost its profits, as mentioned in a report in The Economic Times.

CEO Ritesh Agarwal had said on Wednesday that the coronavirus outbreak has hit the company's expansion plans in China, the world's second-largest economy. The company going through the process of staff reduction in India as well.

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