Alaska Air Group to cut 200 non‑union jobs amid $700 million loss forecast
Alaska Air Group announced it will lay off 200 non‑contract employees, including 125 in Washington and 48 in Hawaii, as it confronts a projected $700 million adjusted pretax loss for the year. CEO Ben Minicucci said the cuts are needed to restore financial discipline after the company posted a $416 million loss in the first nine months and a $147 million net loss in the third quarter. Affected staff will have their last day on Nov 13 and will receive pay through Dec 31 along with severance support.
Why it matters
The layoffs and loss guidance signal heightened cost pressure, which could weigh on ALK’s share price and earnings outlook. The company also reported a 14% revenue rise to $4.3 billion but still posted a net loss, highlighting the impact of fuel price spikes.
Key facts
- 1Alaska Air Group is laying off 200 employees, all non‑union back‑office roles. adn.com
- 2The cuts include 125 jobs in Washington and 48 jobs in Honolulu. adn.com
- 3The layoffs affect less than 1% of the company’s 32,500‑person workforce. adn.com
- 4Alaska expects a $700 million adjusted pretax loss for the year, its first such loss since 2003 outside the pandemic. adn.com
- 5The company lost $416 million in the first nine months of the year, compared with $79 million profit a year earlier. adn.com
- 6Revenue rose 14% to $4.3 billion, but the third‑quarter net loss was $147 million. finance.yahoo.com
Summary written by AlphAI AI Desk from 8 of 8 sources. Not investment advice. Figures are as stated by the linked sources.