Southwest Layoffs Will Take 15% of Its Work Force

Southwest Airlines announced plans to cut 15 percent of its workforce, resulting in about 1,750 job cuts, mainly in corporate positions. CEO Bob Jordan called the decision “unprecedented” as the company aims to become leaner and more agile. The layoffs will save the airline $210 million this year and $300 million next year, but will also incur a one-time cost of $60-$80 million for severance and benefits.

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