Due to Coronavirus, the backbone of many sectors has been broken. These sectors suffered significant losses. These sectors include hotels, restaurants, tour and travel agency cab service and companies providing room facilities. However, now some sectors are showing improvement but the condition of some is still not good. In the wake of this Pandemic, room providing company ‘OYO’ has taken a big decision like extending the leave of its employees for the next 6 months. Rohit Kapoor, Oyo Chief Executive Officer for India & South Asia, said in a blog post: “The situation remains uncertain … we don’t know enough when our occupancies and revenues will recover to pre-COVID levels.”
OYO’s big decision:
Room service provider OYO, which has badly affected by the Corona crisis, took decisions such as retrenchment of its employees in the past months. In addition, the company sent many of its employees on leave in May. Now the company has announced to increase the furlough for the next 6 months keeping the conditions in view. In addition, the company has also provided one option to its employees. Under this other option, any employee can quit the company if he wants.
How long will the leave last:
The rooms provider OYO suffered heavy losses during the lockdown. To overcome this loss, the company has announced to extend the leave of its employees for the next 6 months from now till 28 February 2021. The employees whose leave has been extended was sent on a four-month leave in May. Apart from this, the company has also given the option to its employees that, if the employee wishes, he can leave the company on his own free will.
Announcement of relief measures
Along with these 2 major announcements for the employees of the company, they have also announced relief. These include plans to provide financial assistance to employees, discounts on ESOP vesting, health insurance coverage. After the country is unlocked, the company has started working with the with 30% capacity of the pre-corona period.