Budget provider Spicejet is planning to put off 1,400 workers, which is 15 per cent of its whole workforce, to save lots of prices, in keeping with an Economic Times report. The report, citing folks conversant in the matter, mentioned the layoffs have turn into essential due to Spicejet’s Rs 60 crore wage invoice.
“People have already started getting (layoff) calls,” mentioned an individual conversant in the matter, in keeping with the ET report.
The choice to downsize has been confirmed by SpiceJet officers. A Spicejet spokesperson mentioned the layoff is to make sure an alignment of companywide prices towards operational necessities.
The airline, which is at present working round 30 plane together with eight which can be moist-leased from overseas carriers, has been delaying wage funds for a number of months.
Spicejet is elevating Rs 2,200 crore and the method for the fund infusion is on.
The spokesperson mentioned there aren’t any funding delays and the corporate is progressing properly with its fund infusion and has already made its public bulletins accordingly. “We will be making additional announcements as we progress on the next tranche. The majority number of investors have subscribed,” mentioned the spokesperson.
