According to the reports of the ET, An Indian low-cost airline, SpiceJet will sack nearly 1400 employees to save costs.
However, according to company statements, “There aren’t any funding delays and we are progressing well with our fund infusion and have already made our public announcements accordingly,” the spokesperson said.
“We will be making additional announcements as we progress on the next tranche. The majority number of investors have subscribed”, the spokesperson added.
SpiceJet layoffs will be 15% of its workforce. Currently, the airline is served by 9000 people and operates 30 planes. Moreover, there have been several employees who are yet to be paid for January.
Additionally, the airline has been delaying salary payment for ‘several months’; many staffers. The delayed salary payments by several months have a Rs. 60 crore monthly salary bill.
Cisco to reduce workforce, to axe thousands of jobs
According to several media reports, Cisco plans to lay off thousands of employees as the company plans to restructure its business. The company has nearly a total employee base of 84,000 employees.
Cisco is yet to comment on layoffs. The company will be determining on number of employees to be affected by the layoffs.
In 2023, most of the layoffs were because of overhiring in the Pandemic and tech companies were right-sizing the headcounts, and some microeconomic situations.
And, in early 2024, most people are being laid off because of the integration of Generative AI displacing jobs and with few companies’ economic situations again. The repetitive jobs that can be performed by Artificial Intelligence will be obsolete.
As per the latest update, there have been so far in 2024, there have been 261 layoffs at tech companies with 50,547 people impacted (1,176 people per day).
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