2,000 employees are on the brink of losing their jobs – Are you next?
You might lose your job at the risk of automation!
Reports say: India’s largest hospitality chain OYO is planning to cut off 2000 employees (from India) by the end of January 2020. Rumor has it that they are cost-cutting by automating processes to be less dependent on manpower.
But OYO has denied the same by claiming that they evaluate individuals over a “Performance Improvement Program” and their interests, hence laying off the ones who fail to bear results.
It makes us question what exactly went wrong in their recruitment process. It’s not the first time that they are in the news for something controversial. They also reported net losses worth Rs.2384.69 crores in the Fiscal Year 2019.
In related news, Chinese media claimed that OYO is planning a mass lay off (1,000 employees) at OYO Jiudian (It’s Chinese Subsidiary) – it was shocking as their team had around 2-3K employees and firing 1000 employees would be a significant decision. Yet again, they turned down the claim by terming it as misrepresented and twisted facts. They also backed up their response explaining how they have hired over 1,500 employees in the last couple of months and their pipeline includes hiring over 10,000 full-time employees.
If that wasn’t enough, Yahoo Japan ended it’s valuable partnership with OYO rooms barely 8 months in the system due to multiple complaints from real estate owners.
With so much going on, it was still titled as one of the TOP 5 companies to work for in India by LinkedIn.
The question remains the same, is it a practical solution to fire employees or execute mass layoffs?
What are your thoughts?
