An OYO employee puts out a LinkedIn post for his fired colleagues, hundreds write in with job openings
OYOrecently laid off over 800 employees, and there are more jobs at stake.
- OYO's head for enterprise sales Jasmit Singh, put out a post on
job openingsin organisations.
- Within 24 hours, the post has got over 2,600 likes with over 600 comments.
It has been a stressful week for hundreds of employees at OYO. While many have been fired, others are proceeding with caution as pink slips are still being handed out.
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In light of this, there are SOS messages being sent out, from one friend to another as employees look for openings in other organisations.
OYO's head for enterprise sales Jasmit Singh put out a post on LinkedIn, asking recruiters for job openings in organisations. Within 24 hours of the post, support has poured in from the industry. The post has got over 2,600 likes with over 600 comments.
According to sources, employees fired from OYO have received a severance pay of 3.2 months gross pay, along with gratuity and the option of leave encashment. The company has also offered them outplacement services, personal insurance for 90 days and parental insurance for 4.5 months.
The source also told Business Insider that OYO’s severance package was prepared after an industry survey. OYO has ensured that it is higher than other companies in industries like e-commerce, commute, telecom.
Recently, investor K Ganesh, who has investments in startups like BigBasket, HomeLane, Bluestone.com, too had lent support to the startup in the troubled times. He took to Twitter and wrote that it’s time we go “easy” on OYO and SoftBank.
Can we go easy on @oyorooms , @SoftBank & team? They are taking steps, laying off, changing some past actions, focu… https://t.co/u0JSODBFrX— K.Ganesh (@ganeshk03) 1579149738000
He further wrote, “How many of us have done or built large companies without missteps, mistakes? Am sure there are genuine issues, challenges that need to be addressed. Am sure there would be better ways to do things, learning from mistakes. Cut some slack now, folks.”
OYO had recently laid off over 800 employees, and there are more jobs that are at stake. The $10 billion startup is taking cost cutting measures in the hope of moving towards profitability.
AdvertisementThe startup’s fast and furious strategy for growth had made it the world’s third largest hotel chain in less than seven years of its launch. But it was the same aggressive growth strategy that is beginning to show cracks.
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Inside OYO’s offices — how a 'high pressure' work environment broke a promising startup brand
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