Southwest Airlines Exec Says Continue To Expect To End 2024 With Headcount Down Roughly 2000 Versus 2023; Continue To Plan For Head Count To Be Down Again In 2025 As Attrition Levels Exceed Our Controlled Hiring Levels; Expect Q3 Capacity To Increase About 2% And Q4 Capacity To Decrease About 4%
Portfolio Pulse from Benzinga Newsdesk
Southwest Airlines expects to end 2024 with a headcount reduction of approximately 2000 employees compared to 2023. The company also plans for further headcount reductions in 2025 due to higher attrition rates. Additionally, Southwest anticipates a 2% increase in Q3 capacity and a 4% decrease in Q4 capacity.
July 25, 2024 | 5:23 pm
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Southwest Airlines plans to reduce its headcount by 2000 by the end of 2024 and expects further reductions in 2025 due to higher attrition rates. The company also forecasts a 2% increase in Q3 capacity and a 4% decrease in Q4 capacity.
The planned headcount reduction and capacity changes indicate cost-cutting measures and potential operational adjustments. The reduction in Q4 capacity could signal lower demand or strategic scaling back, which may negatively impact short-term stock prices.
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