Oyo lays off 1,800 in India and China

🌎 Various cities across India and China ∙ 👩‍💼 1,800 employees (9%) ∙ 🖥 Various business roles

Oyo, an India-based budget hotel chain, is laying off 1,800 employees across India and China (9% of staff), and plans to lay off another 1,200 in India in the coming months. The startup has raised a staggering $3.2 billion and was most recently valued at $10 billion by SoftBank. Its fast growth has come with commensurately large losses.