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Oyo announces 4-month paycut in India, some sent on leave

Apr 22, 2020 16:04 IST

Hospitality giant Oyo Hotel and Homes on Wednesday asked its employees to take a 25% pay cut in April and July, as put others on leave with limited benefits for four months: from May 4 to August 30. In a mail written to employees on Wednesday, Rohit Kapoor, CEO for India and South Asia, noted the tough times the hospitality sector and the company is going through and said that although there will be a reduction in the fixed compensation, all other benefits will be provided. He further said that post the pay cut, the fixed compensation for any employee would not be less than Rs 5 lakhs per annum.