Private carrier SpiceJet will be laying off 1,400 people, or 15 per cent of their workforce. The company has said this is part of its ‘turnaround and cost-cutting strategy.’
ET on Monday reported that the company will be laying off these employees to cut costs and retain investor interests. The shares of SpiceJet were trading with cuts of around 4 per cent as of 1:45 pm while benchmark indices were down 0.70 per cent.
