<article><p><strong><a href="https://www.dealstreetasia.com/?s=SoftBank" target="_blank" rel="noopener noreferrer">SoftBank</a></strong>-backed Indian hospitality chain <strong><a href="https://www.dealstreetasia.com/?s=Oyo Hotels and Homes (OYO)" target="_blank" rel="noopener noreferrer">Oyo Hotels and Homes (OYO)</a></strong> is the latest startup after Paytm and Ola to retrench a large chunk of its workforce.</p></article>

SoftBank has reportedly asked its portfolio companies, including those in India, to focus on profitability and stop chasing growth.

SoftBank-backed OYO set to retrench about 500 employees in India

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