4 sources·Business

Southwest Airlines Announces Major Workforce Reductions Amid Profitability Challenges

Southwest Airlines is cutting 1,750 jobs, or 15% of its corporate workforce, marking the first major layoffs in the company’s history.

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  1. Southwest Airlines is slashing 15% of its corporate workforce, its first major layoffs in 53 years

    The job cuts, which are scheduled to be mostly completed by the end of June, are part of a plan by the airline to slash costs and transform the company into a “leaner, faster, and more agile organization.”

    Southwest Airlines is slashing 15% of its corporate workforce, its first major layoffs in 53 years

    Associated PressAssociated Press·3M
    Reliable
    This source consistently reports facts with minimal bias, demonstrating high-quality journalism and accuracy.
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    Center
    This outlet is balanced or reflects centrist views.
  3. Southwest Airlines to cut 15 percent of corporate staff in mass layoff

    The layoff decision comes months after a settlement between Southwest and investor Elliott Investment Management, which had included a push for the CEO to be replaced.

    Southwest Airlines to cut 15 percent of corporate staff in mass layoff

    NewsweekNewsweek·3M
    Mostly Reliable
    This source is generally reliable but sometimes includes opinion, propaganda, or minor inaccuracies.
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    Center
    This outlet is balanced or reflects centrist views.
  1. Associated Press
  2. Business Insider
  3. Newsweek
Updated: Feb 17th, 2025, 11:05 PM ET

Summary

A summary of the key points of this story verified across multiple sources.

Southwest Airlines announced it will eliminate 1,750 corporate jobs, representing 15% of its workforce, as part of a restructuring plan to save costs. This unprecedented move aims to improve profitability amid pressure from investor Elliott Management and comes as the airline faces financial difficulties. The layoffs will save about $210 million this year, with an estimated $300 million savings projected for 2026. Severance packages will also be provided, costing the company $60 to $80 million. Changes are prompted as part of a broader strategy to make the airline leaner and more efficient amidst industry shifts.

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Southwest Airlines Announces Major Workforce Reductions Amid Profitability Challenges - Pano News