OYO joins the string of startups that are permanently leaving office spaces to reduce real estate costs
OYOhas just announced that it is permanently shifting to a hybrid workplace model.
- However, OYO is not alone in this move; companies like
Uber, PolicyBazaar, Swiggy, Zomato have given up their office spaces.
- Experts believe that with this move, onus shifts to need for improved technology offerings to employees.
Indian hospitality unicorn OYO has just announced that it is permanently shifting to a hybrid workplace model. With this new model OYO employees can now work from home, work from anywhere or from OYO’s coworking arm – OYO Workspaces.
View all Offers
View all Offers
- 18% OFF
2020 Apple iPad Air with A14 Bionic chip (10.9-inch/27.69 cm, Wi-Fi + Cellular, 64GB) - Silver (4th Generation)₹ 54900₹ 54900Buy On
- 14% OFF
HP Ink Tank 415 WiFi Colour Printer, High Capacity Tank 6000 Black and 8000 Colour,Low Cost per Page (10p for B/W and 20p for Colour), Borderless Print₹ 13999₹ 13999Buy On
- 15% OFF
HP 15s 11th Gen Intel Core i3-8GB RAM/512GB SSD 15.6 inch(39.6 cm) Laptop, HD, Micro-Edge Display/ Windows 11/ MS Office/Alexa/Jet Black/ 1.75kg) - 15s-du3563TU₹ 43490₹ 43490Buy On
- 35% OFF
Dell 22 Monitor - E2221HN, Full HD (1080p) 1920 x 1080 at 60 Hz, TN Panel, HDMI, VGA, Anti-Glare, 3H Hard Coating, Black₹ 10499₹ 10499Buy On
- 57% OFF
TAGG Verve Ultra Smartwatch with 1.69'' 3D Curved Display, Real SPO2, and Real-Time Heart Rate Tracking, 10 Days Battery Backup, IPX68 Waterproof (Black), Standard₹ 2799₹ 2799Buy On
The development from OYO comes after news reports said that OYO was giving up the lease for its offices in Gurugram.
“Our workforce is divided into three categories, corporate employees, capability functions and field staff. While the field staff is already stepping out and attending office following all the health and safety protocols, our corporate employees and capability functions are also fully operational, and are opting for a combination of work from home and working from flexible coworking spaces solutions,” said Dinesh Ramamurthi, Chief Human Resources Officer,
However, OYO is not alone in this move. With thousands of employees having left the COVID-19 hotspot metropolitan cities to return to their hometowns, many other corporates have been giving up their office spaces in a bid to cut
Uber gave up its Mumbai office space, PolicyBazaar has given up four of its 12 offices in Gurugram, Swiggy has shut offices in smaller cities, while Zomato too is toying with the idea of permanent work from home.
“Our highest recurring expense today (outside of payroll) is real estate. We have 150+ offices globally, most of which are spaces for our sales & logistics teams. Given how well we have been working from home, we have decided to make partial or full work from home a permanent feature of our lives,” Zomato CEO Deepinder Goyal had announced in May.
Adapting to the ‘new normal’
With this, the stress will be on improved technology offerings to employees, believe experts. “Extreme innovation is what will win the game in the near future. As evidenced by the success of office-retail complexes, hybrid models clearly have potential. The workplace of tomorrow will depend on tighter collaboration to seamlessly weld together teams working from home as well as offices. Technology will be the primary enabler, not least of all when it comes to data security in the newly re-envisioned world,” said Anuj Puri, Chairman, ANAROCK Property Consultants.
Why TCS, Infosys, Wipro and HCL Tech can expect better earnings this year — here’s what’s working for each one of them
Zoom opens up new technology centre in Bengaluru with plans to introduce value-added services to the video conferencing app
Shop on wheels finally takes off in India as brands arrive at societies with retail trucks
Popular on BI
- boAt and Dixon Technologies form joint venture to manufacture wireless products in India
- Amazon Republic Day Sale — Best deals and offers on new mobile phones
- EXCLUSIVE: CoinDCX plans to hire more than 2,000 people this year — and they are not just looking at coders
- Amazon Sale 2022: Deals and offers on daily essential products
- Reliance Retail buys 54% stake in robotics firm Addverb Tech for $132 million