Douglas Jones
Geico confirms significant layoffs, pushes for return to office
The insurance company said at least 2,000 employees would face layoffs, making up some 6% of the firm's workforce.
LEARN MOREPosted: 8:54 p.m. EDT Nov 2, 2023
Delta Air Lines said the company will cut corporate positions in order to manage costs amid rising fuel prices and labor costs.
The Atlanta-based airline did not specify exactly how many roles would be involved in the layoffs after multiple media requests.
Delta said in a statement that as the company "plans for 2024 and beyond" it plans to "continue evolving ... to better manage costs and set Delta up for success," WSB reported.
Barrons reported that just weeks prior, the airline reported record profits in its third quarter, signaling how must cost cutting pressures are affecting airlines.
Delta said in another statement, "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," Reuters reported.
At the end of September Delta CEO Ed Bastian faced criticism after the company restructured and made major changes to its rewards program. Earlier that month, the airline announced that SkyMiles Members would no longer be able to gain Medallion Qualification Miles, and instead would gain status through Medallion Qualifying Dollars.
The changes are scheduled to take effect in 2025, but Bastian said Delta would modify the plan based on customer feedback.
