10:13 AM EST, 01/14/2025 (MT Newswires) -- Southwest Airlines ( LUV ) is pausing all noncontract internal and external hiring, according to a company statement sent to MT Newswires on Tuesday.

"We are limiting discretionary costs, including holding on the Southwest ( LUV ) rallies for this year, as we focus on reducing costs," the company said.

Southwest ( LUV ) said it also pausing on most summer internship positions but honoring the ones already made. The airline added it will "continue to evaluate hiring needs on an ongoing basis to determine when it makes sense for the business to resume hiring."

Shares were 1% higher in recent trading.

Price: 33.01, Change: +0.35, Percent Change: +1.07