Southwest Airlines announced it is cutting 15% of its corporate jobs, about 1,750 positions, to reduce costs.

CEO Bob Jordan described the layoffs as “unprecedented” in the company’s 53-year history, aiming for $210 million in savings this year and $300 million in 2026.

The cuts, which include senior leadership roles, are expected to be completed by the end of Q2.

This follows a settlement with activist investor Elliott Investment Management, which pushed for leadership changes, CNBC has reported.

Southwest has also implemented a hiring freeze, paused its internship program, and cut unprofitable routes as part of its cost-saving strategy.

Written by B.C. Begley