Southwest Airlines is cutting 15% of its workforce in its first-ever mass layoff. Read the CEO's full memo to employees.
1. Southwest Airlines cuts 15% of workforce, affecting 1,750 employees. 2. Layoffs aim to save $210 million in 2025, $300 million in 2026. 3. Company faces financial challenges; first layoffs in 53 years. 4. Activist firm Elliott Investment pushing for structural changes in management. 5. Industry trends show other low-cost airlines also implementing cost-cutting measures.