Funds service Spicejet is planning to put off 1,400 workers, which is 15 per cent of its whole workforce, to save lots of prices, based on an Financial Instances report. The report, citing individuals accustomed to the matter, mentioned the layoffs have turn into vital due to Spicejet’s Rs 60 crore wage invoice.
“Folks have already began getting (layoff) calls,” mentioned an individual accustomed to the matter, based on 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 in opposition to operational necessities.
The airline, which is at present working round 30 plane together with eight which can be wet-leased from international 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 should not any funding delays and the corporate is progressing effectively with its fund infusion and has already made its public bulletins accordingly. “We will likely be making extra bulletins as we progress on the subsequent tranche. The bulk variety of buyers have subscribed,” mentioned the spokesperson.