Southwest agrees activist investor Elliott can own up to 19.9% stake until 2026 - MarketWatch

1. Elliott Management increased its stake allowance in Southwest to 19.9%. 2. Southwest plans to cut 1,750 positions, marking its first involuntary layoffs. 3. The airline announced new independent directors in response to Elliott's demands. 4. Southwest's stock has underperformed compared to the JETS ETF and S&P 500. 5. Transformation includes ending open-seating and increasing premium-seating options.