Alaska Air Layoffs: Airline To Cut Nearly 200 Jobs As Fuel Shock Squeezes Earnings
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Alaska Air Group is cutting nearly 200 jobs as high fuel prices squeeze earnings.
- ✓The airline reported a net loss despite rising revenue.
- ✓Chief Executive Ben Minicucci said, "Overheads had grown faster than revenue." Staff will finish work on November 13, as the company manages costs amid a difficult year.
Story at a Glance
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- BUSINESS
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- India Economy
Alaska Air Group is cutting about 200 non-contract jobs, becoming the latest US airline to feel the strain of jet fuel prices running far above what it budgeted.
The group, which owns Alaska Airlines and Hawaiian Airlines, is heading for a loss this year despite growing revenue, according to its own results.
The Job Cuts
Reuters, which saw an internal memo, reported that the cuts amount to less than 1% of Alaska's workforce and spare frontline, non-management roles. It put the affected positions at 125 in Washington state and 48 in Hawaii.
Staff finish work on November 13 but stay on the payroll until December 31 with severance. Chief Executive Ben Minicucci told employees that overheads had grown faster than revenue, the news agency reported.
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