SoftBank's Oyo to go digital-only in Latin America
February 16, 2021
Hotel tech startup Oyo has ended a partnership with SoftBank in Latin America and plans to lay off most of its employees in the region, according to reports. Owing in part to travel restrictions that stemmed from the pandemic, Oyo's sprawling network of hotels has been reduced by nearly half, The Wall Street Journal reported. The Indian company is said to be pursuing a digital-only model in Latin America, and will focus on India, Europe and Southeast Asia.