Oyo to pay 8 months’ salary as part of Covid-19 bereavement support

New Delhi: SoftBank Group Corp.-backed Oyo Rooms has announced bereavement support for families of employees deceased due to the Covid-19 pandemic.

In the event of death of an employee due to Covid-19, Oyo will support his/her family with eight months of salary and a term insurance payout equivalent to three years of annual pay. The company will also sponsor the education of the employee’s children (up to two children) and will extend medical coverage of up to Rs 3 lakh for the spouse and children for a period of five years.

Besides statutory benefits, the employee’s legal heirs and nominees will be granted an opportunity to liquidate and settle the vested options or exercised shares upon the occurrence of the next liquidity event.


"During this time, the well-being of Oyopreneuers and their families is our utmost priority,” Oyo’s founder and CEO Ritesh Agarwal tweeted. “Unfortunately, some of our colleagues have lost their battle with Covid-19, and we hope that our bereavement support will help their kin.”


Oyo said it has also extended covid-related healthcare benefits for its former employees, including access to 'Oyo Covid Champions'—a community of over 200 volunteers across over 50 cities to ensure response and support for verified information on facilities, oxygen supply, medicines, and access to Oyo sourced oxygen concentrators and cylinders.

Agarwal said Oyo wants to do more not just for its employees, but also for the “extended Oyo family”.

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 said 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.