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SoftBank-backed Oyo cuts 1,800 jobs in India and China

Restructuring turmoil casts shadow over Vision Fund

A sign protesting Oyo Hotels & Homes in New Delhi: The fast-growing chain has faced some headwinds, including at home in India.   © Reuters

MUMBAI -- India's Oyo Hotels & Homes has let go of about 1,800 employees in India and China, trimming fat in key markets while strengthening a push into the U.S.

The SoftBank Group-backed startup dismissed 1,200, or 12%, of its Indian workforce and 600, or 5%, of its Chinese employees, Bloomberg reports. Another 1,200 jobs will be cut in India over the next three to four months.

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