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Revenue nose-dived; OYO sent thousands of employees on Leave

Nabanita Dutta

News Editor

Popular hospitality giant OYO has sent thousands of employees on leave or furloughs for a period upto three months. In the meantime, the company is planning to work on its plans to dodge the effect of Coronavirus on its revenue as the occupancy has nose-dived due to the ongoing pandemic and lockdown in most countries across the world. OYO CEO Ritesh Agarwal said that the company’s balance sheet is facing severe stress.