Kingfisher to cut 300 jobs, Lehman 2,500
Most of the 2,500-odd employees working for investment banking giant Lehman Brothers in India stand to lose their jobs.
With the financial crisis spreading and oil prices rising, the airline industry too is under heavy pressure. Just a fortnight after it launched international operations and integrated low-cost carrier Simplify Deccan with it, Vijay Mallya-promoted Kingfisher Airlines has laid off at least 300 employees.
The move closely follows a recent announcement by value carrier, JetLite, fully-owned subsidiary of Naresh Goyal-promoted Jet Airways that it was downsizing by at least 750 employees.
It is also believed that of the 300 employees, only five per cent are from Kingfisher Airlines, and the rest from the erstwhile Simplify Deccan.
Image: A Kingfisher Airline flight at the Mumbai airport. | Photograph: Pal Pillai/AFP/Getty Images
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