Southwest Airlines announced a halt on hiring, promotions, and most summer internships to lower costs and improve financial performance. CEO Bob Jordan emphasized the urgency of minimizing expenditures to regain profitability. The company is also discontinuing its historic team-building events, known as Southwest Rallies, amid ongoing changes that include implementing a new assigned seating policy and partnerships for international routes. This decision comes in response to pressure from activist investor Elliott Investment Management, which won board seats in a recent settlement while calling for significant operational changes at the airline.