Southwest Airlines is implementing a hiring freeze and pausing employee events to reduce costs, underscoring the company's focus on financial health amidst pressures from hedge fund Elliott Management.
The airline announced it will honor previously made internship offers but will pause new positions, as it evaluates hiring needs going forward.
Changes to the board are underway, with Chairman Gary Kelly slated to retire in 2025, reflecting a settlement reached with Elliott Investment Management for improved operational decisions.
Once a consistent profit-maker, Southwest Airlines now faces significant challenges in profitability post-pandemic, trailing behind competitors like Delta and United.
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