Two weeks after it placed employees in the US, UK and around the
globe on furlough but stated it would not do so for employees in India during
the country's lockdown, India-based OYO Rooms confirmed it will commence with
voluntary leave with limited benefits for some employees in India beginning 4 May,
the day after the country's extended lockdown is currently scheduled to end.
The leave is scheduled through August 2020. The company also confirmed it has
reduced the salaries of Indian employees by 25 per cent from April through
July.
"Our company is taking a difficult but necessary step
for India, whereby we are asking all OYOpreneurs to accept a reduction in their
fixed compensation by 25 per cent, effective till July 2020 payroll," said
OYO CEO for India and South Asia Rohit Kapoor, adding that those going on leave
will receive limited benefits including continuation of medical and parental
insurance and school fee reimbursement. In addition, they will receive an
amount equal to 60 per cent of their monthly fixed salary, paid in equal instalments
in May and June, according to a company spokesperson.
The coronavirus outbreak has hit the fast-growing company
hard in recent months. OYO went through a major restructuring in January, with
thousands of employees laid off in India and China, followed by the additional
global cuts in early April. In February, OYO CEO Ritesh Agarwal spoke to BTN
about future plans for the company. He was also among BTN's2019 25 Most
Influential individuals in business travel.