Budget Airline SpiceJet to layoff 1400 employees amid financial crisis

Amidst the ongoing wave of layoffs across the world, jobs have started getting affected in India too. Budget airline SpiceJet, which is facing financial crisis, is going to lay off thousands of its employees. The company is doing this to reduce costs.

15 percent employees 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

It is being told that 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 for several months

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.

Tech companies made such layoffs

The news of layoffs by SpiceJet has come at a time when the deep impact of layoffs is already being seen across the world. The pace of layoffs has increased since the beginning of this year. Many big companies like Amazon, Google, Microsoft, Cisco have thrown their employees out of work this year. However, the ongoing retrenchment across the world is affecting tech companies the most. According to a report, in January alone, tech companies laid off more than 32 thousand people.

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