Southwest Airlines has announced that it will lay off 15% of its employees in an effort to reduce costs and maximize its efficiencies. Here’s what you need to know about Southwest’s layoffs and how employees and fliers will be impacted.

On Monday, Southwest president and CEO Bob Jordan published a memo announcing that the popular low-cost airline will reduce its workforce by 1,750 positions, which the company says equals about 15% of its total employees.

Jordan said the move was part of its previously announced “transformational plan.” That plan aims to accomplish three main things, according to Jordan:........

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