SPICEJET SHARES PLUMMET 5% AMID LAYOFF RUMORS
The Business Guardian
|February 13, 2024
SpiceJet drops 5% after report says airline mulls laying off 1.4K employees
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SpiceJet's stock fell by 4.6% to Rs. 65 per share during Monday's intraday trading on the BSE following reports suggesting the airline is contemplating laying off 15% of its workforce. Amid financial difficulties, the cash-strapped airline is reportedly considering reducing its staff by 1,400 employees, which accounts for approximately 15% of its total workforce, as a measure to cut costs.
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