Oyo, the budget hospitality chain has been in the headlines for around six months now due to layoffs, pay cuts among other things. They have been making headlines due to their relationship with the hoteliers all over the world due to the COVID-19 pandemic. Oyo has been facing disruptions in around 80 countries and now finally has some good news.  

ESOP worth $20 million has been allotted to the Employee’s welfare trust, by this firm. A resolution was passed in order to approve this allotment of 388 equity under the 2018 ESOP plan. These shares are allotted to Dinesh Ramamurthi, who is not only a trustee of this welfare trust, but is also the chief of human resources in the company.  

Notably in March, the firm, which is led by Ritesh Agarwal had stated that it would open the option to liquidate the stock options holding a value of 200 crore for around 600 employees. This allotment would increase the confidence of the workforce at the firm.  

Oyo has made its name as one of the companies (5th) who have recently rewarded employees.