SpiceJet plans to lay off 1,000 employees as part of cost-cutting strategy

SpiceJet, low-cost airline, is set to lay off at least 1,000 employees as part of its ways and means to save costs.

The step is aimed at saving Rs 100 crore on an annual basis.

The news was confirmed by a spokesperson of the airline on Tuesday citing manpower rationalization as part of its cost-cutting strategy to ensure profitable growth.

"As part of our turnaround and cost-cutting strategy, following the recent fund infusion, SpiceJet has initiated several measures, including manpower rationalization, aimed at achieving profitable growth and positioning ourselves to capitalize on the opportunities in the Indian aviation industry," the spokesperson said.

Through the initiative they anticipate an annual saving of up to Rs 100 crore, the spokesperson said.

The airline, launched in 2005 currently has around 9,000 employees and 30 planes, 10 of which are wet-leased.

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