11:11 AM EST, 02/18/2025 (MT Newswires) -- Southwest Airlines ( LUV ) plans to cut 1,750 corporate jobs, including senior leadership roles and directors, as it works to implement a previously announced transformation plan.

The carrier said late Monday that the planned layoffs represent about 15% of its workforce. Among the affected are 11 senior leadership positions, also reflecting 15% of Southwest's ( LUV ) senior management committee.

"This decision is unprecedented in our 53-year history, and change requires that we make difficult decisions," Chief Executive Bob Jordan said in a statement. "We are at a pivotal moment as we transform Southwest Airlines ( LUV ) into a leaner, faster, and more agile organization."

The company in September launched a three-year strategic plan that it said at the time could deliver $500 million run rate of cost savings in 2027. The separations announced on Monday will be substantially completed by the end of the second quarter.

The layoffs are expected to result in 2025 savings of about $210 million and $300 million in 2026, according to the company. The airline will take a one-time change between $60 million and $80 million in the first quarter related to severance payments and post-employment benefits.

"I arrived at this decision thoughtfully and carefully, knowing how hard it will be to say goodbye to colleagues who have been a significant part of our Southwest Culture and accomplishments," Jordan said. The company plans to report additional cost-savings as 2025 progresses, it wrote.

The carrier last month reported a 1.6% year-over-year increase in fourth-quarter revenue to $6.93 billion that was shy of the $6.96 billion average analyst estimate in a FactSet survey. Adjusted earnings rose to $0.56 from $0.38 a year earlier and topped the $0.46 consensus.

The company announced last week that it tapped Tom Doxey, who most recently served as president of Breeze Airways, as Southwest's ( LUV ) chief financial officer.

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