Aya Lin · · 1 min readIn brief: Indian hospitality chain Treebo lays off 120 people as funding falls through
- Indian hospitality firm Ruptub Solutions, which owns and operates Treebo Hotels, has laid off about 100 to 120 employees, or about 20% of its workforce, The Economic Times reported, citing three people familiar with the development.
- The company cited a “large” potential funding falling through as the reason for the move, according to an employee.
- It was earlier reported that Accor, a French hotel chain, was in advanced talks for a US$40 million investment in Treebo.
Editing by Charmaine de Lazo
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