Softbank backed Oyo Hotels & Homes decided to restore employee salaries

According to an announcement made through a town hall meeting led by CEO for India and South Asia Rohit Kapoor and chief human resources officer Dinesh Ramamurthi of Softbank backed Oyo Hotels & Homes, the chain declared that it is restoring full salaries of employees with a fixed compensation of upto Rs 8 lakh and will gradually restore salaries of all other employees by December this year.  Also, there will be immediate salary restoration for employees with salaries of upto Rs 8 lakh means pay cuts for as many as 60% of employees across India and South Asia stand reversed, and that they will receive their full salary in the next payroll. Earlier, in the face of the deep and upfront impact of the covid 19 situation on tourism industry, the company had taken some hard decisions in the form of considerable pay-cuts and sending many employees for leave without benefits.

Author: TW News Bureau