Oyo rolls out voluntary separation programme
Gaurav Ajmera, global head of revenue management, and Burhanuddin Pithawala, global head of marketing and growth at Oyo Hotels & Homes have quit the company.

Oyo announced changes in its marketing and revenue vertical in an internal note to employees on Friday. In a separate blog post, the company stated employees on its leave with limited benefits plan in India can now either choose to opt for the Voluntary Separation Programme (VSP) or continue with the leave with limited benefits for another six months until February 28, 2021.

“While the choice is theirs to make, we request them to attend to the several important elements to the proposal which will help them make an informed decision,” the company said.

Oyo said it has appointed Anuj Tejpal as the global chief commercial officer. Tejpal will lead the revenue (including OTA) marketing and growth for the company globally. He was previously the global business development leader. In India, Oyo has elevated Abhishek Bansal to VP and chief revenue officer. Yatish Jain has been appointed as the head of marketing and growth for the company in India.

In his role, Ajmera was leading the global revenue function where he worked with all market CEOs. Prior to being the global head of revenue management, he was COO, India and South Asia at Oyo.

Chandan Agarwal, the head of Oyo’s cloud kitchen business has also left the company during the pandemic, people familiar with the matter said. “As part of the restructuring announced in January, some roles were impacted and made redundant and Chandan Agarwal, head of capability for Oyo Cloud Kitchen moved out of Oyo. We wish him all the best for his next endeavor,” said an Oyo spokesperson in a response to ET’s queries.

For its employees on the leave with limited benefits plan in India, Oyo said it is offering a cash benefit equivalent to their notice pay basis last drawn compensation in March 2020. “This is beyond the 30% ex gratia pay that was enabled for the months of May and June, respectively for some upfront liquidity,” Oyo said in the blog post.

It said the company had also granted restricted stock units (RSUs) to all employees and that employees who opt for the voluntary separation programme are being given a choice to cancel a small portion (to the tune of 25%) of their unvested RSUs and get additional cash benefit equal to 25% of their March 2020 drawn fixed salary.

“We don’t quite know when our occupancies and revenues will recover to pre Covid levels. In such a situation, we do not foresee any more roles opening up anytime soon,” Oyo said in its blog post.

Oyo has not specified how many employees in India had been put on the leave with limited benefits plan. Oyo said it will continue to provide healthcare coverage of the current corporate health insurance policy upto January 25, 2021 and that it has partnered with ABC Consultants to offer career transition support to these employees.

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