SpiceJet plans to lay off 1,000 people

February 12, 2024 12:42

Crisis-hit SpiceJet plans to hand out pink slips to at least 1,000 employees in the coming days as the airline works to significantly reduce costs and streamline operations of its depleted aircraft fleet, officials said on Monday.

Faced with financial woes, legal battles and other headwinds, the no-frills carrier might ask more staff to leave as there is excess manpower now compared to the number of planes in service.

A final decision on the quantum of layoffs is expected this week, one of the officials in the know said.

The airline has around 9,000 employees and is now looking at reducing the strength by 10-15 per cent, the official said, adding that layoffs are necessary to reduce the overall costs and annual savings could be up to Rs 100 crore.

A reduction of 15 per cent would mean around 1,350 people will lose their jobs. The second official in the know said that layoffs are expected across departments and the final list is being prepared.

People from the management and consultancy are working on chalking out the contours of letting staff leave, and all the departments have been asked to give their inputs, the official added. There was no official comment from SpiceJet on the proposed job cuts.

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