OYO to pay 8 months full salary as part of COVID-19 bereavement support
Oyo Rooms, also known as Oyo Hotels & Homes will support the families of the employees who have lost their lives due to COVID-19, with 8 months’ pay in full, and support the education of their children for 5 years as part of bereavement support, OYO founder and Group CEO Ritesh Agarwal said in a tweet on Wednesday.
1/ COVID-19’s second wave has been devastating for many. During this time, the wellbeing of OYOpreneurs & their families is our utmost priority. Unfortunately, some of our colleagues have lost their battle with COVID-19 & we hope that our bereavement support will help their kin👇— Ritesh Agarwal (@riteshagar) May 19, 2021
Ritesh Said, “For families of OYOpreneurs who have lost their lives due to COVID-19 OYO to pay full salaries for 8 months and term insurance payout equal to 3 years of their annual pay support the education of their kids for 5 years extending group medical coverage to spouse and kids.”
Besides statutory benefits, the employee’s legal heirs/ nominee will be granted an opportunity to liquidate and settle the vested options or exercised shares upon the occurrence of the next liquidity event, OYO said in a statement.
“We won’t stop here. In addition to our existing COVID employee policies, we want to do more, not just for OYOpreneurs but also for our extended OYO family. Now more than ever we need to support those who built OYO into what it is today.,” Agarwal said.
“Over 200 OYO volunteers across 50+ cities continue to help our current employees & we are further extending COVID support & resources ranging from oxygen concentrators to medical supplies round the clock to OYO Alumni & their families,” he said.
Oyo said over 500 employees and their family members were recently vaccinated through a vaccination drive in partnership with Max Healthcare in Delhi-NCR. The company added it is in the process of setting up more camps for its employees across the country. Oyo had also announced a four-day work week for May and “flexible offs” until July.