OYO cuts 450 jobs in Japan, closes multiple regional offices: Report

SoftBank-backed OYO has reduced the headcount in its Japanese hotel operations from 600 in October to 150 through furloughs and job re-assignment to SoftBank, Bloomberg reported. It added that OYO is encouraging employees to quit, offering up to a four-month severance. The hospitality unicorn also shut some regional offices in June and is reportedly looking to downsize its Tokyo headquarters.