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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Line must go up
could perhaps also be that they’re expecting an extended period of lower demand due to ‘current events’
Southwest was purchased by a private equity firm, so it’s only going to go down from here.
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.
