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SpiceJet may axe 2000 jobs to cut losses; rejig top management

Cash-strapped SpiceJet airlines may axe 2000 jobs to cut losses.

Indicating the prospects of a lay off, Sun Group CFO has said that if SpiceJet has to stay in this sector then the huge manpower must be trimmed down.

The decision comes after the Maran family agreed to transfer ‘ownership, management and control’ in the airline to its original founder and new owner Ajay Singh.

The beleaguered airlines has also decided to balance its aircraft versus employees ratio. Sources have said that there might be a rejig in the top management while the company may stop its flights to non profitable routes.

As per Zee Media sources, company’s Managing Director S Natrajhen might also tender his resignation soon.

Last Thursday, the SpiceJet board approved the ‘Scheme of Reconstruction and Revival’ that would see Kalanithi Maran and Kal Airways transferring ownership along with ceding management and control of the ailing airline to Ajay Singh.

In the quarter ended September 30, 2014, SpiceJet reported Rs. 310 crore loss, widening from Rs. 124 crore in the previous quarter. The losses were, however, lower in the year-ago quarter ended September 30, 2013 at Rs. 560 crore.

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