SpiceJet to lay off 1400 people

Bengaluru  : Low-cost carrier SpiceJet said on Monday (Feb 12) that it has started adopting measures to reduce its workforce, aiming to save 1 billion rupees ($12 million) annually.

Newspapers reported earlier in the day that the cash-strapped airline would lay off 1,400 staff or around 15pc of its 9,000-strong workforce.

The carrier, however, did not confirm the number of jobs being cut.

SpiceJet said it took the measures as part of its turnaround and cost-cutting strategy following fund infusion to help in the revival of its grounded planes.

The airline, once India's second-largest, has so far raised 7.44 billion rupees as part of a 22.50 billion rupees fundraising effort by selling shares and warrants.

• -B