Southwest Airlines shifts away from values in order to cut costs, WSJ say

Once a company that touted its “fun-luving” attitude and ability to avoid mass layoffs, Southwest (LUV) is now making changes it “once considered unthinkable,” Alison Sider and Chip Cutter of The Wall Street Journal reports. It is removing its open seating and egalitarian cabins to chase higher revenues, hiring and promotions were put on ice, and festive rallies for employees have been canceled. The company’s board now wants deeper and faster cost-cutting, which the airline has been working to accelerate and exceed its target, people familiar with the matter told the Journal. Additionally, the company recently announced its first large layoff.