Southwest workforce reduced by 2.5% in 2021, amid declines in flight, management employees

Southwest Airlines Co. disclosed Monday that it had 55,100 active fulltime equivalent employees as of Dec. 31, 2021, which is down 2.5% from the same time a year ago. The air carrier said in its 10-K annual report filing with the Securities and Exchange Commission that its current workforce consisted of 23,500 flight employees, down 4.1% from 24,500 a year ago; 21,000 ground, customer and fleet service employees, up 7.7% from last year; 3,200 maintenance employees, up 6.7% from a year ago; and 7,400 management, technology, finance, marketing and clerical employees, down 22% from last year. The company said 82% of its employees were represented by labor unions, down from 83% at the end of 2020. "The company continues to focus on its hiring needs to meet schedule demands," Southwest stated in the 10-K. "There is an ongoing battle for talent, leading to less candidate supply and a decline in qualified candidates." The stock, which rose 1.0% in morning trading, has dropped 15.6% over the past three months, while the U.S. Global Jets ETF has shed 12.9% and the S&P 500 has eased 4.2%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.