Tuesday, March 5, 2024
HomePersonal FinanceLayoff: This company will lay off 1400 employees, know what is the...

Layoff: This company will lay off 1400 employees, know what is the reason

layoffs India’s budget airline SpiceJet has laid off the jobs of thousands of employees. SpiceJet, which is facing financial crisis, is going to lay off 1,400 employees, which is equal to about 15 percent of its total workforce.

The ongoing wave of layoffs across the world amid inflation and job crisis has now started affecting jobs in India too. Recently, India’s budget airline SpiceJet has also laid off the jobs of thousands of employees. SpiceJet airline, which is facing financial crisis, has decided to lay off thousands of its employees. Actually, the company is doing this to reduce its costs.

15 percent of the total workforce will be employed

According to an ET report, SpiceJet is going to lay off 1,400 employees, which is equal to about 15 percent of its total workforce. At present the total number of employees of the company is around 9 thousand. The company is currently operating about 30 aircraft, out of which 8 are taken on lease. According to the report, the airline has also confirmed the layoffs.

Salary bill is Rs 60 crore

According to the information, the company is under pressure to reduce costs to maintain the interest of investors. The salary bill of all the employees of the company alone is reaching Rs 60 crore. In such a situation, the company is making every possible effort to reduce the costs. Laying off 1,400 employees is also part of efforts to reduce costs.

Delay in getting salary

According to ET, many SpiceJet employees have started receiving calls from the company regarding layoffs. Earlier, SpiceJet employees were facing delay in salary. The company was continuously delaying in paying salaries for the last several months. Many employees have not yet received their salaries for the month of January. The company is in the process of capital infusion of Rs 2,200 crore from some investors.

Shyamu Maurya
Shyamu Maurya
Shyamu has done Degree in Fine Arts and has knowledge about bollywood industry. He started writing in 2018. Since then he has been associated with Informalnewz. In case of any complain or feedback, please contact me @informalnewz@gmail.com
RELATED ARTICLES
- Advertisment -

Most Popular

Recent Comments