Low-cost carrier SpiceJet said on Monday that it has started adopting measures to reduce its workforce, aiming to save 1 billion rupees ($12 million) annually.
Local business daily Economic Times reported earlier in the day that the cash-strapped airline would lay off 1,400 staff or around 15% of its 9,000-strong workforce.
The carrier, however, did not confirm the number of jobs being cut.
SpiceJet said it took the measures as part of its turnaround and cost-cutting strategy following fund infusion to help in the revival of its grounded planes.
The airline, once India's second-largest, has so far raised 7.44 billion rupees as part of a 22.50 billion rupees fundraising effort by selling shares and warrants.
Featured Video Of The Day
Mumbai Boat Tragedy: Who Gave Permit For Trial Run? Cops Ask Navy
"Will Miss Birth Of My Child": Man Slammed For Pranking SpiceJet Staff With Fake Emergency Story SpiceJet Expands Domestic Network With 8 New Flights SpiceJet Removed From Enhanced Surveillance Regime Pakistan Tries To Arm-Twist China Over Gwadar Port. The Plan Backfires. Police Case Registered Against Rahul Gandhi For "Injuring" 2 BJP MPs Strict Laws For Women's Welfare; Marriage Not Commercial Venture: Top Court Winter Session To End Today With Rahul Gandhi Facing Police Case: 10 Facts Samajwadi Party MP, Accused Of Electricity Theft, Fined Rs 1.9 Crore Assembly Passes Resolution To Name Pune Airport After Sant Tukaram Track Latest News Live on NDTV.com and get news updates from India and around the world.