Southwest Airlines to cut 1,750 corporate positions in first nonvoluntary layoffs in 53-year history - MarketWatch
1. Southwest cuts 1,750 jobs to reduce costs and streamline operations. 2. CEO Bob Jordan claims this is unprecedented; they aim for a leaner organization. 3. One-time costs of $60-$80 million expected; savings of $210 million by 2025. 4. Activist shareholder Elliott Management pressures for changes in the company. 5. LUV stock is down 10.8% this year, lagging behind peers like JETS and SPX.