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OYO India extends furloughs for some employees

OYO India extends furloughs for some employees

Hospitality firm OYO India is offering the option to voluntarily separate or extend the leave for another six month to the employees who are on leave with limited benefits.

 

The impacted employees can either choose to opt for the Voluntary Separation Program (VSP) or continue the Leave with Limited Benefits ( LwLB) period by another 6 months until February 28, 2021.

 

"The measures we took in April were based on the circumstances that followed India’s decision to enter a 21-day lockdown period. In a matter of a few hours, travel came to a standstill, people could not leave their homes and hotels were shut down. Occupancies and revenues for the entire hospitality industry, including OYO, were deeply impacted and we had to decide how to survive this crisis. On top of it, nobody had the idea that the lockdown will be extended four times until June 30 in varying degrees, leaving a long-lasting impact on the business and a severe dent on our revenues" OYO India wrote in a blog.

 

"We know it is challenging to hold back our impacted colleagues due to a situation that neither they nor we can control or wish away. Given the context, we have created a set of options for OYOpreneurs on LwLB in India to make a decision that is best aligned with their long-term career goals and financial requirements."

 

The company will also offer career transition support, OYO ambassador programme and OYO Helpdesk for supporting the employees in withdrawing provident fund (PF) and to help them with any other queries

 

"We are offering a cash benefit equivalent to their notice pay basis last-drawn compensation in March 2020. This is beyond the 30 per cent ex-gratia pay that was enabled for the months of May and June, respectively, for some upfront liquidity," the statement said.

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