Oyo CEO gets a 250% raise, while employee salaries and bonuses are slashed
Shortpedia
Content Team
Image Credit: business standard
Events such as Paytm’s failed IPO to Ola backtracking on its expansion plans by shutting down businesses and cutting jobs, raise concerns about India’s startup bubble finally bursting. Among Indian unicorns, Oyo Rooms was tied down by the pandemic, and lost Rs 76,000 crore every minute in FY20-21. While thousands were laid off and employee salaries as well as bonuses were slashed, the founder Ritesh Agarwal’s pay went up by 25%.
