https://techcrunch.com/2020/04/22/softbank-backed-oyo-cuts-salaries-furloughs-employees/

Oyo is furloughing more employees globally and levying a 25% pay cut across the board through July this year as the Indian budget lodging startup looks to reduce its expenses to deal with the coronavirus pandemic that has slashed its revenue by about 60%.

Rohit Kapoor, chief executive of Oyo, shared the news with employees in a virtual town hall Wednesday. The move comes at a time when Oyo has already furloughed and cut thousands of jobs in recent months globally.