Oyo Will Lay Off Most of Its Furloughed U.S. Employees
Skift Take
Oyo's decision to part ways permanently with furloughed U.S. employees is tied to its view that the lodging company's full global recovery wouldn't occur until the second half of 2021. It's a nice gesture to give them stock options, although the jury is out on whether they'll be worth much in the long run.
Lodging company Oyo informed U.S. employees furloughed because of the impact from coronavirus that a "large majority" of them would be laid off but receive stock options, Skift has learned.
Chief Operating Officer Abhinav Sinha, in a Wednesday email that Skift obtained, told furloughed U.S. employees that Oyo doesn't expect a full recovery globally until the second half of 2021. (Se
