Oyo to cut 2,000 employees; Startups hand out pink slips
Business

Oyo to cut 2,000 employees; Startups hand out pink slips

Agency News

Jettisoning the overweight employees is the new mantra of survival for big startups viz. Oyo, Ola, paytm, Quikr etc.

All these startups are fast growing but they cannot suffer the high cost paid for employees anymore. In 2020 Oyo most probably chop off around 2,000 employees. Ride hailing firm Ola has trimmed 8 percent of its employees. Paytm too have ousted 5-7 percent of employees.

Food delivery firm Zomato has laid off 600 executives in September 2019. Quikr has trimmed around 1,000 workers in December. Normally, the employees from sales, customer support and marketing have experienced job loss.

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