Southwest also has embarked on a three-year plan to evolve its offerings, including introducing assigned seating—another first for the carrier—and the creation of an extended legroom product, both of which are designed to bolster the carrier’s revenue.

The reduction also includes leadership positions, Southwest said, adding it would eliminate 11 senior leadership roles — which represents 15% of the company's senior management committee.

Days after Southwest announced its first layoffs in company history, a C-suite executive who has been with the company for over two decades stepped down. Aviation experts weigh in on the future of the airline after passengers and employees are left wondering.