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Rappi and Oyo pare staff as Vision Fund companies trim costs, target profits
https://techcrunch.com/2020/01/10/rappi-and-oyo-pare-staff-as-vision-fund-companies-trim-costs-target-profits/
This week we’ve covered layoffs at unicorns both inside the Vision Fund and out. This afternoon we add two more to our list: Oyo and Rappi.
The staff reductions are surprising — and not. They are surprising, as Oyo (India-based, low-cost hotels) and Rappi (Latin America-focused e-commerce) were bright lights in the Vision Fund’s crown. And the layoffs are not surprising as other famous unicorns have recently cut staff in a bid to reduce costs, diminish losses and aim closer to profitability.
Rappi and Oyo pare staff as Vision Fund companies trim costs, target profits
Jan 10, 2020, 8:26pm UTC
https://techcrunch.com/2020/01/10/rappi-and-oyo-pare-staff-as-vision-fund-companies-trim-costs-target-profits/
> This week we’ve covered layoffs at unicorns both inside the Vision Fund and out. This afternoon we add two more to our list: Oyo and Rappi.
> The staff reductions are surprising — and not. They are surprising, as Oyo (India-based, low-cost hotels) and Rappi (Latin America-focused e-commerce) were bright lights in the Vision Fund’s crown. And the layoffs are not surprising as other famous unicorns have recently cut staff in a bid to reduce costs, diminish losses and aim closer to profitability.