To save costs and maintain investor interest, SpiceJet plans to lay off around 1,400 employees, which equates to approximately 15% of the current workforce.
The budget airline confirmed the job cuts and stated that they are necessary to align companywide costs with operational requirements.
The layoffs are attributed to the airline’s salary bill and the fact that they have been delaying salary payments for several months.
Despite this, SpiceJet stated that it is currently in the process of receiving a fund infusion of ₹2,200 crore, although some investors have expressed concerns.
The airline currently has 9,000 employees and operates 30 planes, compared to 16,000 employees and 118 planes in its peak year of 2019. SpiceJet currently holds a market share of around 4%.
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