SoftBank startup Oyo slashing footprint and head count in Japan

The slide in Oyo’s fortunes is the result of aggressive scaling up of operations.

Even before the coronavirus pandemic began this model was showing strains and Oyo was facing heat from its promoter SoftBank to turn profitable.

The pandemic has delivered a crushing blow on the hospitality industry, and for the Oyo hotel chain, it led to the loss of thousands of jobs across the world.