SpiceJet plans to lay off 1,000 people
The Hindu
“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 February 12.
“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 February 12.
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%,” the official said, adding that layoffs are necessary to reduce the overall costs and annual savings could be up to ₹100 crore. A reduction of 15% 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.
The second official explained that the airline has stopped operations on certain RCS (Regional Connectivity Scheme) routes and at those stations, there is excess manpower, especially staff with lower salaries. “Relocating such people will be a challenge,” the official noted.
Currently, SpiceJet has a fleet of more 30 aircraft apart from 10 planes that are on wet lease. During a meeting with the airline's senior officials last month, SpiceJet Chairman and Managing Director Ajay Singh emphasised the importance of judicious spending and that he will personally oversee all major expenditures.
Mukesh Ambani announces ₹7 lakh crore investment in Gujarat, emphasizing clean energy, AI, and support for Olympic ambitions.
The All India Cashew Association calls for urgent action against illegal cashew imports threatening India's domestic processing industry.
Moody’s upgrades Shriram Finance’s outlook to positive, citing strategic benefits from MUFG Bank's upcoming investment and improved financial stability.
India's rice exports soar to near record levels in 2025, driven by lifted curbs and increased global demand.
Dr. Reddy's responds to U.S. FDA queries regarding its Hyderabad biologics facility following a recent inspection.
Techno Paints plans a ₹500 crore IPO in FY27, featuring Sachin Tendulkar as brand ambassador to boost growth.
India's shift from Russian oil imports will have limited fiscal impact due to low global prices and reduced discounts.
The latest Household Consumption Expenditure Survey (HCES) by MoS&PI reveals a transformative shift in India’s economic landscape. For the first time in over a decade, granular data on Monthly Per Capita Expenditure (MPCE) highlights a significant decline in the proportional share of food spending—a classic validation of Engel’s Law as real incomes rise. Between 1999 and 2024, both rural and urban consumption pivoted away from staple-heavy diets toward protein-rich foods, health, education, and conveyance. As Indian households move beyond subsistence, these shifting Indian household spending patterns offer vital insights for social sector policy, poverty estimation, and the lived realities of an expanding middle-income population.
Investors shifted to Gold ETFs in December 2025, with record inflows amid macro uncertainty and declining equity returns.
Aurobindo Pharma's subsidiary receives Health Canada NOC for Dyrupeg, confirming its pegylated filgrastim biosimilar's safety and efficacy.
SEBI exempts small brokers from the technical glitch framework, impacting 60% of stock brokers in India.
Vodafone Idea confirms ₹124 crore annual AGR dues until 2031, following government relief approval for the struggling telecom firm.
With digital technologies dominating the financial landscape and redefining the operations of regulated entities, regulation and supervision by the regulator must remain risk-based, proportionate, and technology-neutral said Reserve Bank of India (RBI) Governor Sanjay Malhotra.