OYO, which is preparing to launch an IPO, is considering retrenchment of its employees in the coming days.

According to sources associated with the company, OYO currently has 3700 employees, in the coming days their number will be reduced by 10 percent.

However, the company is definitely going to recruit 250 employees in its relationship management team.

OYO said that this move is part of implementing comprehensive changes in its organizational structure.

The company is downsizing its product and engineering, corporate headquarters and OYO 'Vacation Homes' team.

Apart from this, it is expanding its team for relationship management and business development.

 A statement issued by OYO said that OYO will reduce 10 percent of its 3,700 employees, which includes new recruitment of 250 members and retrenchment of 600 employees.

The company told that the product and engineering teams are being merged for smooth functioning.

250 members will be added to the relationship management team for better customer and partner service.

This will help in increasing the number of hotels on the company's platform.

OYO founder and group CEO Ritesh Agarwal said that we will make every effort to ensure that most of the people we are letting go get a good job.

Every member of the OYO team and myself will actively work to support these employees.

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