Source: CNBC
“Southwest Airlines is pausing corporate hiring and promotions, suspending most of its summer internships and going without some employee team-building events that date back to the 1980s in order to cut costs and improve margins, CEO Bob Jordan told staff. ‘Every single dollar matters as we continue to fight to return to excellent financial performance,’ Jordan said in the note Monday, which was seen by CNBC. He said the company will delay other activities ‘when it makes sense.’ A Southwest spokeswoman confirmed the changes. … The airline last year charted out a plan to increase profits that includes ditching its more than 50-year-old open seating model in favor of assigned seats and creating a section with extra legroom, flying overnight flights, and more aggressively cutting back unprofitable routes.” (01/14/25)