Having laid off about 15 to 20 per cent of its workforce in early January, OYO Hotels is now trying to do its best to lend the retrenched staff some support through their tough time. Its consulting firm has advised the hospitality company to offer outplacement services, along with an average of about three months’ gross salary. The Company will also offer personal insurance for nearly 90 days and parental insurance for about four and a half months to the laid off employees. The employees have been reportedly given a month’s pay immediately after they were laid off.
This support is part of the fair and humane approach the Company has adopted. The other principles that Oyo is trying to follow are, lending financial protection for a reasonable period of time, empathising with the staff, dealing with them respectfully and offering them continuous support.
Oyo is tying up with outplacement agencies to help the affected employees get new jobs. These agencies will be guiding and helping the employees for about three months. Efforts will also be made to place the employees in partner companies and in startups that are looking to hire. The Company will be paying gratuity in the form of ex gratia for every six months served by an employee. The staff will also be allowed to encash their leaves so that they do not feel deprived in any way.
The Company has been cautious to exclude pregnant employees or those women who have just returned from maternity leave from the layoff.
Counsellors have been hired to help the impacted employees deal with the situation and relieve them of the ensuring stress and anxiety.