On Wednesday, Softbank took astep and backed Oyo and declared with few guidelines which stated announced pay cuts and laeve with certain limited benefits, for all its staff in India.
Rohit Kapoor, who is the CEO of the company mailed to all its employee asking to accept decreased reduction in their fixed compensation by 25% which would effective for the period of April-July 2020.
Kapoor also stated that the company has taken a hard decision during this situation that some of the employees would remain on the leave period with some of the additional benefits being provided to them from May 4 for four months. The company has confirmed the developments.
The employees who will be going on leave will be availing some of the benefits such as continuation in their medical insurance, parental insurance, school fee and support in ex gratia.
Kapoor also ensured that in case the employees need help in unforeseen medical emergency, Oyo will come forward and help these employees beyond the insurance amount.
Kapoor’s email to the employees stated that further information would be provided by our leaders and HR.
Oyo did not come up with any sure figure for employees who would be going on leave. On the 25% pay cut measures Kapoor stated that action would be planned in a proper way after post proposed pay cut. This would ensure that greater group of employees at lower pay scale would not face any problem.