Manufacturing Industry
Southwest Airlines offers employee buyout scheme
Airline Industry Information, May 28, 2004
AIRLINE INDUSTRY INFORMATION-(C)1997-2004 M2 COMMUNICATIONS LTD
Southwest Airlines is reportedly offering cash payouts and other perks to employees who resign from the carrier.
The airline is offering its employees a buyout offer in an attempt to manage overstaffing in some jobs. About 33,000 of the airline's 34,000 employees are eligible for the buyout offer, which expires on 25 June 2004. The deal is available to employees with at least one year on the job, but not to top executives.
The airline does not have a goal for the number of jobs it hopes to cut or the savings it hopes to gain, according to an airline spokesperson.
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