Rohit Kapoor, CEO India & South Asia at OYO, on Friday said about 15-20 percent of its employees will be impacted across regions, hubs, as well as corporate functions, as the company was restructuring its workforce.

Kapoor told CNBC-TV18 it was a one-time exercise and likely to get over in the next few days. Restructuring will impact about 2,000 employees of its total strength of about 12,000, he said.

Earlier in this month, OYO founder and CEO Ritesh Agarwal in a letter to employees in India and South Asia said the company went ahead of itself and unfortunately some roles at OYO will become redundant.

Kapoor: said: “In late 2019 we had a leadership meeting, where the global leadership met and we were reassessing out path ahead for the next few years and in particular in 2020. As part of the leadership team, I have no hesitation in saying that we got a little bit ahead of ourselves in some areas of growth and there was a need to re-calibrate.”

"We went back to the drawing board and looked at what kind of growth, which areas of growth, what do we want to do going forward. There are several implications, but one of the implications, and it has been extremely tough for us, is that we had to ask a lot of our colleagues to move to a new career.”

Speaking about OYO’s new focus areas, he said, “As we look at all our businesses, the one common theme that we build across is that, there has to be growth; we will continue to invest. We want to be globally relevant company not just in hospitality, but overall, and for that investments will continue. However, the growth will be calibrated to ensure that all the stakeholder metrics are in balance.”

First Published:Jan 24, 2020 8:43 PM IST