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JetBlue Layoffs 2018: Employees Brace for Job Cuts

JBLU stock was largely unmoved Friday

JetBlue Airways (NASDAQ:JBLU) announced that the company is rolling out a new round of layoffs as part of a major corporate reshuffling.

JetBlue LayoffsThe airline said that it will be restructuring its operations and “eliminating a number of positions” in a number of ways, including layoffs, buyouts and attrition, according to a company spokesperson on Friday. The company had mandatory meetings at its Long Island City headquarters on Friday to unveil the details of the plan, which includes a review of its organization from top to bottom over the last several months.

JetBlue Airways said that these cuts will mostly include some of the company’s workers who operate behind the scenes in its New York airports but flight crews will not be affected. The company hopes that its workers will exit the company satisfied as it is offering the chance to resign, as well as by offering them compensation packages to workers who exit the company by choice.

The move is part of an ongoing restructuring effort that began in December 2016, when the company said that it was seeking to reduce its operational costs by up to $300 million a year by 2020. JetBlue Airways will also be enhancing its maintenance in order to fix planes faster, while also adding more self-service check-ins and bookings for travelers.

JBLU stock was up a fraction of a percentage on Friday following the news.

Article printed from InvestorPlace Media,

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