Southwest Airlines(US:LUV) Prnewswire·2025-02-17 22:33Core Viewpoint - Southwest Airlines is implementing a workforce reduction of approximately 1,750 employee roles, primarily targeting corporate overhead and leadership positions, as part of its transformational plan to create a leaner and more agile organization [2][3]. Workforce Reduction Details - The reduction represents about 15% of corporate positions, including senior leadership and directors, with eleven senior leadership positions being eliminated [2]. - The company anticipates that the workforce reduction will lead to estimated savings of approximately $210 million for partial year 2025 and $300 million for full year 2026, excluding a one-time charge of $60 million to $80 million expected in Q1 2025 related to severance payments and post-employment benefits [3]. Company Leadership Statement - Bob Jordan, President and CEO, described the decision as unprecedented in the company's 53-year history, emphasizing the need for difficult decisions to transform the airline into a more agile organization [3]. Company Background - Southwest Airlines operates one of the world's most admired airlines, serving 117 airports across 11 countries and carrying more air travelers flying nonstop within the United States than any other airline [6][7]. - The company has a workforce of over 72,000 full-time equivalent employees as of December 31, 2024, and aims to maintain its commitment to customer service and community engagement [6][7].