Connect with Creators and Tech Leaders at SXSW—Learn More Partner With Us

Briefing
covid-19 startups travel

Hotel Chain Oyo Furloughs Workers

By
Wendy Pollack
· · Source: Bloomberg

Oyo, the SoftBank-backed hotel chain, is furloughing thousands of employees as the coronavirus pandemic cripples the travel and hospitality industry. CEO Ritesh Agarwal told employees in a video message Wednesday that revenue had dropped 50%-60% due to the outbreak, according to Bloomberg. The India-based startup had been struggling prior to the virus’s spread. Backed by a $1.5 billion...

Get access to exclusive coverage
Read deeply reported stories from the largest newsroom in tech.
Latest Articles
 
Exclusive
Musk Leaves Twitter Staff Without Equity Plan as Deadline Looms
By Erin Woo · Jan. 31, 2023 1:40 PM PST
Art by Shane Burke. Photo by Bloomberg
Shortly after Elon Musk bought Twitter last fall, he promised Twitter staff that they could look forward to the kind of stock rewards employees at SpaceX—another private company Musk runs—enjoy. But as Musk’s ownership of Twitter nears the end of its third month, he has yet to release details of the new stock compensation plan, according to several employees. Employees at...
Latest Briefs
 
PayPal Lays Off 7% of Staff
By Isabelle Sarraf · Jan. 31, 2023
Celsius Used Customer Money to Buy Crypto, Bankruptcy Filing Shows
By Aidan Ryan · Jan. 31, 2023
Instagram Cofounders Launch News App
By Isabelle Sarraf · Jan. 31, 2023
Stay in the know
Receive a summary of the day's top tech news—distilled into one email.
Access on the go
View stories on our mobile app and tune into our weekly podcast.
Join live video Q&A’s
Deep-dive into topics like startups and autonomous vehicles with our top reporters and other executives.
Enjoy a clutter-free experience
Read without any banner ads.
CEO Maju Kuruvilla. Photo: Getty Images
Exclusive startups venture capital
Bolt CEO Cuts Staff a Third Time as Revenue Lags
By Erin Woo
Bolt, the one-click checkout startup that slashed staff at least twice last year as growth fell short of its goals , laid off around 10% of employees on Tuesday, or at least 50 people, according to two people with direct knowledge.
Photo via Shutterstock.
Exclusive microsoft ai
Microsoft Plans Security Features, Wider Release for Its OpenAI-Powered Coding Tool
By Aaron Holmes
ChatGPT has generated headlines and hype since its release last year, with its humanlike responses to written prompts.
Jonathan Kanter, assistant attorney general of antitrust for the US Department of Justice, speaks during a news conference on January 24. Photo by Bloomberg.
The Briefing microsoft google
DOJ’s Latest Case Against Google Is Intricate But Important
By Jessica E. Lessin
Over my career as a tech reporter, regulators have sued or threatened to sue Google for exerting monopoly power in its ads business so many times it’s hard to keep track.
Left photo by Getty Images. Right photo by Bloomberg.
The Briefing markets facebook
Trump’s Meta Return; Massage Therapists, Matthew McConaughey and Elon Musk
By Martin Peers
So much for Facebook’s efforts to become less political. Meta Platforms’ decision Wednesday to allow former President Donald Trump back onto both Facebook and Instagram threatens to undermine efforts Meta has made over the past two years to reduce the amount of political content people see in their Facebook feed.
Jack Conte. Photo: Bloomberg
Creator Economy
Where Patreon Goes From Here
By Mahira Dayal
Patreon , a nearly 10-year-old startup, became a pandemic success story when lockdowns left artists dependent on online sources for income.
Photo by Bloomberg.
Exclusive microsoft ai
Microsoft Readies Service to Let Cloud Customers Pool Data Safely
By Kevin McLaughlin
As Microsoft weaves more artificial intelligence into its Azure cloud services and applications, it is also working on security and privacy software to assure customers their information doesn’t fall into the wrong hands when stored on cloud servers shared by multiple customers.