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...
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Musk Leaves Twitter Staff Without Equity Plan as Deadline Looms
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...
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