SoftBank-Backed Oyo is firing thousands of staff across China and India
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Oyo Hotels is firing thousands of staff across China and India, people familiar with the matter said, adding to growing signs of trouble at one of the largest startups in SoftBank Group Corp.’s portfolio. The company has let go of 5% of its 12,000 employees in China partly due to non-performance while dismissing 12% of its 10,000 staff in India, one of the people said. It plans to shed another 1,200 in India.