In the midst of the airline’s financial woes, the company just revealed that it will be making some major changes in an effort to cut costs. According to a new report from CNBC, Southwest Airlines is putting a freeze on corporate hiring and promotions.

In September, the company slashed its flights from Atlanta, eliminating jobs, though staff were able to apply to work out of other bases.

CEO Bob Jordan reportedly told his staff in a note that the firm is halting corporate hiring and promotions, suspending most summer internships, and doing away with some employee team-building events to reduce costs and better margins.

Southwest Airlines (LUV) is reportedly pausing corporate hiring, summer internship programs, and team-building activities to cut costs, according to CNBC reporting. Catalysts hosts Seana Smith and Madison Mills examine the report and what it means for the budget airline.

Southwest Airlines (LUV)’ cost-cutting is taking off in a big way. The seventh-largest airline in the world by revenue said it would pause corporate hiring and promotions and suspend most summer internships.

Southwest Airlines is hitting the pause button on some of its hirings, internships and employee events this year as the company looks to lower costs

President Joe Biden's administration on Wednesday sued Southwest Airlines , accusing the carrier of illegally operating multiple chronically delayed flights and disrupting passengers’ travel.

Southwest Airlines Co. is pausing hiring for management, headquarters jobs and outside workers in a new round of cost cuts following a fight with activist shareholder Elliott Investment Management.