Cashstrapped SpiceJet to reduce workforce to survive the skies Republic Business

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SpiceJet, grappling with significant financial strains, has initiated substantial workforce reductions as part of its cost-saving endeavours, with nearly 15% of its workforce, totalling 1,400 employees, slated for layoffs, according to media reports. Facing overdue salary payments and mounting operational costs, the airline is striving to align its expenses with its reduced operational scale, aiming to save $12 million annually. Despite these challenges, SpiceJet is actively pursuing fundraising efforts, having already secured a substantial amount to alleviate its financial burdens. Amidst ongoing turbulence, the company expresses confidence in its ability to weather these challenges and emerge stronger. • #RepublicBusiness #SpiceJet #Layoffs #JobCuts #Aviation #Airlines #AviationSector #AviationNews #Workforce • Welcome to the Republic Business Channel – Your Gateway to the World of Commerce and Entrepreneurship! • 📈 Explore the dynamic landscape of business, finance, and innovation with our engaging and insightful content. Whether you're a seasoned entrepreneur, a budding business enthusiast, or simply curious about the latest trends in the corporate world, this channel is your go-to destination. • 🚀 Uncover the secrets of successful business strategies, stay updated on market trends, and gain valuable insights from industry leaders and experts. From startup stories to in-depth analyses of global economic shifts, we've got you covered. • 🎙️ Join our vibrant community of business enthusiasts, share your thoughts, and engage in meaningful discussions. Subscribe now to embark on a journey of knowledge, inspiration, and growth in the world of Republic Business! • You can stay connected with Republic Business on - • • YouTube: / @republicbusiness • Facebook - / republicbusinesss • Twitter - / republicbiz • Instagram: / republicworldbusiness • Koo: https://www.kooapp.com/profile/Republ... • Whatsapp Channel: https://whatsapp.com/channel/0029Va7c...

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