Southwest Airways warns workers of ‘powerful selections’ forward, Bloomberg reviews By Reuters
(Reuters) – Southwest Airways (NYSE:) has warned workers that it’s going to quickly make powerful selections as a part of a method to revive earnings and counter calls for from activist investor Elliott Funding Administration, Bloomberg Information reported on Saturday.
The airline is contemplating making adjustments to its flight routes and schedules to extend income, the report added, citing the transcript of a video message to workers by Chief Working Officer Andrew Watterson.
“I apologize prematurely in the event you as a person are affected by it,” Watterson mentioned, in line with the report, including that he did not provide any particulars on the pending strikes.
Southwest didn’t instantly reply to a Reuters request for remark.
The airline has been struggling to seek out its footing after the COVID-19 pandemic, partially because of Boeing (NYSE:)’s plane supply delays and industry-wide overcapacity within the home market.
It plans to supply assigned and extra-legroom seats to draw premium vacationers and begin in a single day flights. It’ll current the small print to buyers on Sept. 26.
Earlier this week, Reuters reported that Elliott, which owns 10% of Southwest’s frequent shares, instructed one of many firm’s prime unions it nonetheless needs to switch CEO Robert Jordan, even after the service pledged to shake up its board.
