OYO cuts fixed pay of all by 25%

NEW DELHI: OYO on Wednesday asked some of its staff in India to go on leave with limited benefits from May 4 for four months, and also asked all employees in the country to accept a cut in their fixed salaries by 25% due to the impact of the COVID-19 on the hospitality industry.

The company currently has around 10,000 employees in the country.

"We had to take the hard decision of placing some OYOpreneurs on a leave with limited benefits (LwLB) from May 4, 2020, for four months until August 2020," OYO India and South Asia CEO Rohit Kapoor said. Those going on this leave will avail benefits such as continuation of medical insurance and parental insurance, school fee reimbursement and ex-gratia support, he added.

"In addition, to our colleagues on LwLB, in case there is an unforeseen medical emergency, we will support beyond the insured amounts, if the need so arises," Kapoor said.

(To view our epaper please click here. For all the latest News, Mumbai, Entertainment, Cricket, Business and Featured News updates, visit Free Press Journal. Also, follow us on Twitter and Instagram and do like our Facebook page for continuous updates on the go)

Free Press Journal

www.freepressjournal.in