SpiceJet set to lay off 1,400 employees

Cash-strapped budget airline SpiceJet is set to lay off 1,400 employees, nearly 15% of its workforce, to cut costs and retain investor interest. The airline currently has 9,000 employees and operates about 30 planes. Of these, eight are wet-leased from foreign carriers, along with crew and pilots.

SpiceJet confirmed the job losses.

“This is to ensure an alignment of companywide costs as against operational requirements,” a spokesperson said.