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Oyo furloughs staff worldwide after coronavirus hit

Japan unit of SoftBank-backed hotels group to slash costs by transferring employees

Oyo's headquarters in India. The company's CEO said many employees would be placed on temporary leave. (Photo by Akira Kodaka) 

TOKYO -- India's Oyo Hotels and Homes will place thousands of employees on monthslong temporary leave to cut costs, admitting to "severe stress" as revenues have more than halved during the coronavirus pandemic.

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