Tag: Layoffs 2024

SpiceJet to cut at least 1,000 jobs to ensure profitable growth

Layoff 2024: The news indicates that SpiceJet Airlines is about to lay off 1000-1400 workers, or around 15% of its whole staff. Due to financial difficulties, SpiceJet plans to fire many of its staff.

According to the ET article, the airlines have justified the workforce reductions by pointing to operational needs to control the company’s overhead expenses.

Let us inform you that SpiceJet Airline employs 9,000 workers at the moment and that it runs approximately 30 aircraft, which also includes eight wet-lease from foreign carriers. If reports are to be believed, the airline is reducing staff because of an estimated Rs 60 crore salary expense.

Payments firm PayPal to cut about 2,500 jobs or 9% of a global workforce

Layoffs 2024: PayPal Holdings, a payments company, is considering laying off 2,500 employees worldwide in 2024, or 9% of its total workforce. CEO Alex Chriss disclosed the proposal in a letter dated January 30.

“Today, I am writing to share the difficult news that, over the year, we will be eliminating open roles and directly reducing our global workforce by approximately 9%,” Chriss stated in an official statement.

The newly appointed CEO, Chriss, wrote a letter to the staff explaining that the company had decided to “right-size” itself by eliminating unfilled positions and making direct layoffs over the year. By the end of the week, notice is anticipated to be given to the impacted staff members.

PayPal declared last week that it was pursuing features involving artificial intelligence. It was Chriss’s first significant statement since taking over as CEO of Intuit, the financial technology business that makes TurboTax, in September. Faster checkout times, AI-powered merchant recommendations for consumers, and a revamp of consumer apps are just a few of the AI features. Chriss referred to it as the start of PayPal’s “next chapter.”

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