SpiceJet Plans To Lay Off 1,400 Employees In Cost-Saving Measure; Details Here

New Delhi: Amidst the ever-evolving landscape of the airline industry, SpiceJet, a notable budget carrier finds itself at a crossroads. Recent reports from the Economic Times suggest that the airline is considering a significant workforce reduction, planning to lay off 1,400 employees equating to 15 percent of its total workforce. This decision, attributed to the need to curb costs, has arisen due to SpiceJet's staggering Rs 60 crore salary bill. 

“People have already started getting (layoff) calls,” According to a source familiar with the situation, as reported by the Economic Times. SpiceJet officials have confirmed the decision to downsize with a spokesperson stating that the layoffs aim to align company wide costs with operational requirements. (Also Read: International Shree Sitaram Bank: 10 Fascinating Facts About Ayodhya’s Unique Bank)

SpiceJet, currently operating roughly 30 aircraft including eight on wet leases from foreign carriers has faced delays in salary disbursements over several months. The airline is in the process of raising Rs 2,200 crore with efforts underway to complete the fund infusion. (Also Read: UPI Payment Services Launched In Sri Lanka, Mauritius; PM Modi Attends Virtual Ceremony)

According to the spokesperson, there are no delays in funding, and the company is making good progress with its fund infusion. They further mentioned that SpiceJet has already made public announcements regarding this matter. “We will be making additional announcements as we progress on the next tranche. The majority number of investors have subscribed,” stated the spokesperson.