Southwest Airlines is eliminating 1,750 jobs, or 15% of its corporate workforce, in the first major layoffs in the company’s 53-year history

Southwest Airlines Co.’s stock fell 1% Tuesday after the carrier said it is cutting 1,750 corporate positions, equal to 15% of that group, as it moves to cut costs and create a leaner organization. The cuts will affect senior leadership and directors,

Southwest Airlines is slashing 15 percent of its corporate workforce, approximately 1,750 employees, as the Texas carrier aims to boost revenues and shrink costs. Mass layoffs haven't been seen at Southwest before,