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Southwest Airlines to slash 15% of corporate jobs in 'unprecedented' move to cut costs (www.cnbc.com)

submitted 5 months ago by MicroWave@lemmy.world to c/economics@lemmy.world

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KEY POINTS

Southwest said it would cut about 15% of its corporate workforce, or 1,750 jobs.
The airline has been under pressure to cut costs.
CEO Bob Jordan said it was the company’s first large-scale layoff.

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[–] dangling_cat@lemmy.blahaj.zone 15 points 5 months ago (1 children)

Southwest was purchased by a private equity firm, so it’s only going to go down from here.

[–] doc@fedia.io 11 points 5 months ago

It was? When? This is the first time I've heard that.

Just checked: private equity came in last summer and has a number of seats on the board. Not so much a purchase, but that influence will mean changes to "add shareholder value." Ugh.