Southwest Airlines is slashing 15% of its corporate workforce, its first major layoffs in 53 years

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.

The Dallas-based airline said Monday that the job cuts would be focused almost entirely on "corporate overhead and leadership positions," including senior leadership and directors.

Eleven senior leadership positions, representing 15% of the company's senior management committee, are also being eliminated.

Southwest CEO Bob Jordan said the job cuts are part of a plan by the airline to slash costs and transform the company into a "leaner, faster, and more agile organization in a statement.

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