Layoff season extends into February as SpiceJet, Cisco and other prominent names announce job cuts

 

Also read :Layoff season extends into February as SpiceJet, Cisco and other prominent names announce job cuts

Also read :Layoff season extends into February as SpiceJet, Cisco and other prominent names announce job cuts

India’s cash-strapped budget airline SpiceJet, which operates 30 planes with a workforce of 9,000, has announced plans to lay off 1,400 employees, accounting for nearly 15% of its staff. This is an effort to cut costs and boost investor confidence, adding to recent job cuts by other companies.

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Confirming redundancies, a SpiceJet spokesperson said the downsizing aligns costs with operational requirements, necessitated by its $7.2 million monthly wage bill. Sources said employees have received termination notices, as salary payments have been delayed for months, with some not paid since January.

While seeking a Rs 2,200 crore infusion, investors were hesitant, sources said. The spokesperson clarified funding delays: “We are progressing well with our fundraising.”

Also read :Layoff season extends into February as SpiceJet, Cisco and other prominent names announce job cuts

Other firms also announced staff cuts recently. US tech firm Cisco will reportedly terminate thousands globally during restructuring, with an exact figure pending its earnings call this week. Amazon pared roles at its Pharmacy and One Medical units. Spell- and grammar-checking services firm Grammarly also joined the layoff roster.

Job losses at India’s budget carriers reflect cost control efforts to weather financial hurdles, while recent redundancies highlight companies’ response to uncertain economic conditions.