Oyo rooms staff will work from home permanently

Recently, the CEO of Oyo announces that Oyo rooms staff will work from home permanently. This decision comes after the company quits its leased offices in Gurugram

Oyo rooms staff will work from home permanently

Currently, Oyo classifies its employees into three categories. Those are corporate employees, capability functions, and field staff.

The field staff should be working at their real estate properties full time, but the remaining two sets of employees can WFH permanently

The Cheif HR officer of Oyo says the same thing while interacting with the media. He says that the company is planning to implement a hybrid model of working from home.

The employees do not need to come to offices. They can either work from home or from the co-working spaces of Oyo. Not only Oyo but several companies are implementing permanent work from home model

Several other Indian startups like Policy Bazaar also ditched their offices in Gurugram enabling permanent WFH. Swiggy and Zomato are also considering the same

Also, read: 30% of Tech Mahindra will soon WFH permanently

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Also, read: 11000 employees resigned from top Indian companies in the last 90 days
Swiggy announces that more job cuts are happening
Google extends work from home until next June

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Job offers revoked at several top B-schools

Around 58 job offers are revoked at the top B-schools in the country. This includes IIMs and newly established NMIMs. The placement officials blame the coronavirus impact for this situation

Several companies belonging to sectors like ed-tech, fin-tech, automobile sectors ranging from well-established companies to startups are part of this. Along with this, several companies have deferred the joining dates of the students.

Job offers revoked at several top B-schools

Mr.Amit Karna, the placement head at IIM Ahmedabad says that usually, the majority of the placements happen between the months of May to June. It extends until October, this year. He also expressed concern that EMI’s will start for students but not the jobs

Read more: Cognizant forces its benched employees to resign

Several students are taking an alternate way to secure jobs. Some have found via the institute, while some are using Linkedin to secure jobs. Although these students received some offers, they are still looking out for better offers

The students belonging to all the IIM’s and newly established Mumbai’s NMIMS have lost several job offers and are taking the help of alumni’s to get some jobs

The placement head at IIM Kozhikode said that around 6-7 startups revoked job offers for their students. He expects this count to be more in the coming days. IIM Kashipur’s placement head said that around 11 job offers were revoked and 28 offer’s joining date has been deferred

Read more: DRDO Notification: Walk-in-interview on July 1st

The companies cite coronavirus impact and lack of revenue as the reasons for this. Also, several placement related officers believe that it is very rare for companies to do such things.

Companies like Oyo. Droom has postponed the joining dates of students at least until October and August, respectively.

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Companies that laid off their employees recently have started helping them out in finding jobs elsewhere

Many companies have laid off some of their employees in order to survive in the post corona crisis. Almost all the companies either have furloughed their employees or made them take a leave of absence. But some companies are still trying to help their employees by finding them jobs elsewhere

One such company is Swiggy. The hiring team at Swiggy has given 1,100 pink slips to their employees recently. Now they have started to do outplacement and find their laid-off employees new jobs. The vice-president of HR at Swiggy has said that they have recently fired their employees only to survive the impact coronavirus has caused. It was a tough call for them to fire some fo their employees. He also said that their employees are performers and they can help their new companies.

Along with Swiggy, several other companies are also doing helping their employees who are recently been fired. This list includes Uber India, Oyo, Ola, Cure.fit, ShareChat, Lendingkart, Zomato, MakeMyTrip, Airbnb. The companies only account for firing 5000 of their employees due to their revenues collapsing from 40-80%. In some sectors like hospitality, the business has completely brokedown

These companies are partnering with the outplacement services to provide jobs for the employees who have been fired recently

On the bright side, these companies are partnering with outplacement services in order to help find the employees who have been fired to get a new job. The expenses for the job searching and related activities are being taken by the companies and are not being imposed on the employees

The General Manager at RiseSmart India has said that although layoffs did happen, some of the companies are looking to hire as well. RiseSmart is a staffing company belonging to the global staffing company Randstad. This company has agreed to a partnership with Swiggy, Airbnb, and several other companies to provide outplacement services. According to data, the outplacement in the country has been growing 30% annually

The employees who are recently fired are welcoming this new process. They are hopeful that their previous company is still helping them to overcome this bad situation

The executive Vice president of TeamLease believes that new job openings have dropped drastically to one-third of the pre-COVID times. However, everyone is hoping that the situation becomes stable again

The companies are also asking their employees to update their resumes and skills to find better jobs. One such company is Swiggy. Along with this, they are also extending benefits like paying communication expenses and providing medical insurance until their ex-employees find new jobs. These companies are also offering counseling services.

Zomato has taken one extra step and created a dedicated directory for all these employees so that new companies that are looking to hire these employees can have detailed data about the skills of their employees along with their previous positions. Some of the startups are providing career counseling services and also suggesting alternative career options to the employees

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US Staff at Oyo is sent on temporary leave. Indian jobs might be safe.

OYO, the Indian hotel chain has promised its employees that there will be no layoffs in India even though the situation is not good due to the corona spread. Unline in India, the staff in the US and other countries were being sent on ‘temporary leave’.

Ritesh Agarwal, the CEO of OYO has said that they are keeping their promise to Govt. of India that there will be no layoffs or salary cuts to all of its 10,000+ employees. Just 3 months back, the company has finished its latest round of layoffs as of recognition strategy to cut the costs. During that period, OYO has laid off around 30% of its US employees and 800 Indian employees.

He also said that no other sector would have impacted bigger than travel, tourism and hospitality sectors. The company is expecting a 10-15% losses due to this lockdown and corona situation. Globally, the overall revenues of the company have fallen over 50-60%.

The company is said to be thinking of all the different options in order to keep the jobs safe. Some of them are giving temporary leaves to OYOpreneurs, etc. However, they are planning to take back their employees on a full-time basis, once this situation is over.

OYO is back on track in China as the situation eases there. Also in Japan, Denmark the company is back to doing good. Recently, OYO’s competitor Treebo has given its employees an option for voluntary resignation. While in MakeMyTrip, the founders have taken a salary cut for the entire year.

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