SpiceJet to lay off 1400 employees to save costs, retain investor interest:

Daily Current Affairs / SpiceJet to lay off 1400 employees to save costs, retain investor interest:

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Category : Business and economics Published on: February 13 2024

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From the SpiceJet company around 15% of the budget carrier's existing workforce is being let go.
Cash-strapped SpiceJet will lay off around 1400 employees, accounting for nearly 15% of its existing workforce, with the move aimed at cutting costs and to retain investor interest.
At its peak, in 2019, SpiceJet had 118 planes and 16,000 employees.
“This is to ensure an alignment of companywide costs as against operational requirements,” the statement quoted a SpiceJet spokesperson as saying.