Delta Air Lines (NYSE:DAL) layoffs are a hot topic among traders on Friday as investors as the company prepares to cut corporate and management positions.
Delta Air Lines didn’t say how many employees will be affected by the layoffs. However, a spokesperson for the company did note that the job cuts are only to be small adjustments to the areas mentioned above.
Delta Air Lines said the following about the layoffs in a statement to CNBC:
“While we’re not yet back to full capacity, now is the time to make adjustments to programs, budgets and organizational structures across Delta to meet our stated goals — one part of this effort includes adjustments to corporate staffing in support of these changes.”
Investors will note that these new layoffs come after the company started rehiring employees following job cuts during the pandemic. That has its headcount sitting at about 100,000, as compared to 83,000 at the end of 2021.
Delta Air Lines Joins Layoffs Trend
Investors will keep in mind that Delta Air Lines is far from the only company that has been announcing layoffs recently. Several companies are cutting jobs to better align with demand and the economy.
This has resulted in many job cuts throughout 2023 as companies deal with an unstable economy. Inflation and increasing interest rates have both been weighing on businesses throughout the year.
DAL stock is up 3.7% as of Friday morning.
Investors seeking out even more of the most recent stock market stories will want to stick around!
We’re offering coverage of all the latest stock market news traders need to know about on Friday! Among that is what’s going on with shares of Carvana (NYSE:CVNA), Werewolf Therapeutics (NASDAQ:HOWL) and Palantir (NYSE:PLTR) stock today. You can catch up on all of these topics at the links below!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
