According to an ET report, the cash-strapped airline will lay off around 15% of its workforce. However, SpiceJet is yet to confirm the number of jobs being cut.
The company which introduced India to mobile payments is building an India-scale AI system to help financial institutions capture possible risks and frauds in the sector.
The layoffs, which will affect over 300 workers, are part of a rejig announced by founder and CEO Kabeer Biswas, the report stated, citing several people aware of the matter.
As part of restructuring, the video streaming service will combine small and midsize picture productions units, resulting in a few job cuts, the report said.
In an internal email, the CEO cited a funding winter & pressure to turn profitable as the reason for these layoffs. Other companies to have cut staff include Tiger Global-backed Vedantu & Byju's.
More than half of the layoffs will affect staff at its non-billable corporate functions, the IT company said, sending its shares up more than 4% before the bell.
A theme has not yet emerged for BJP & people see lack of a contest, which makes it unexciting. For all these reasons, 2024 is turning out to be an unexpectedly theme-less election.
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