Updated February 12th, 2024 at 10:11 IST
Bad News: SpiceJet Announces Job Cuts, Move to Affect 1,400 Airline Staffers | Key UPDATES
SpiceJet, which has been reportedly delaying salary payments for several months to its employees, said the move aims to cut costs and ensure investor interest
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SpiceJet Layoff News: Budget carrier SpiceJet is reportedly laying off 1,400 employees, which constitutes 15% of the airline’s workforce. The move aims to cut costs and ensure investor interest. The cash-strapped airline, which currently has 9,000 employees and operates about 30 planes, has reportedly confirmed the news, stating that the move will “ensure an alignment of companywide costs as against operational requirements”.
Why SpiceJet Announced Job Cuts: What We Know So Far
- The airline has a Rs 60 crore salary bill
- SpiceJet has been delaying salary payments for several months.
- Many haven't yet got their January pay.
- SpiceJet is reportedly in the process of getting a fund infusion of Rs 2,200 crore.
The airline said the funding plans are on track and an announcement is expected soon. Earlier this month, SpiceJet had secured over Rs 900 crore in funding.
Published February 12th, 2024 at 10:10 IST