Southwest Airlines’ share price was rising in pre-market hours as the airline announced plans to cut 1,750 corporate jobs, marking the first mass layoffs in its 53-year history. The cuts, representing 15% of the airline’s corporate workforce,

KEY TAKEAWAYS Shares of Southwest Airlines rose in premarket trading Tuesday after the carrier said it plans to cut 15% of its corporate workforce, eliminating about 1,750 jobs in the first large layoffs in its history.

Southwest anticipates these job cuts will save $210 million in 2025 and $300 million in 2026. However, the company will also incur a one-time expense of $60 million to $80 million for severance and other related costs.