Alaska Air to cut 200 jobs, warns of potential $700 million annual loss
ALK•Alaska Air Group will eliminate about 200 non-contract positions as fuel prices and geopolitical challenges squeeze its finances. CEO Ben Minicucci warned the company could lose as much as $700 million this year if current conditions persist.
1. Job cuts and loss warning
Alaska Air Group said it would eliminate about 200 non-contract positions, less than 1% of its roughly 32,500 employees. The cuts include 125 positions in Washington state and 48 in Hawaii; no frontline, non-management jobs are being eliminated.
2. CEO cites cost pressures
In a memo to employees, CEO Ben Minicucci said the company could lose as much as $700 million this year if current conditions persist, which would mark its first adjusted pretax loss outside the pandemic since 2003. He said overhead expenses had grown disproportionately to revenue and called for a return to financial discipline.
3. Employee support
Affected employees will have a last working day of November 13 and continue receiving pay through December 31, along with severance and other support.
