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

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.
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