According to Southwest Airlines, Tammy Romo, the executive vice president and chief financial officer (CFO), and Linda Rutherford, the chief administration officer (CAO), will both retire on April 1.

Southwest Airlines is imposing several cost-cutting measures as it faces pressure from activist investors.

Southwest Airlines Co.’s top finance executive plans to step down after more than 33 years with the carrier, extending a leadership overhaul in the wake of an activist campaign by shareholder Elliott Investment Management.

Following a bitter battle with an activist investor, Southwest is pausing corporate hiring and most summer internships to cut costs and improve margins.

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

CEO Bob Jordan said, "Every single dollar matters as we continue to fight to return to excellent financial performance."

Southwest Airlines says it's not filling some jobs and summer internships this year as the company looks to lower costs.

The leadership changes come after the airline's executive chairman was pressured to retire early last year and two-thirds of the company's board was replaced.

Tammy Romo will leave the company on 1 April, a move coming as the Dallas-based airline progresses with revamping its business following several years of lagging profits.

Southwest said that it will continue to evaluate its hiring needs on an ongoing basis to determine when it makes the most sense to restart hiring.

The Department of Transportation is suing Southwest Airlines, accusing it of operating two “chronically delayed flights” in 2022 that resulted in 180 flight disruptions.

The move comes after a dispute with the activist firm Elliott Investment Management. Southwest Airlines is pausing corporate hiring to cut costs, a company spokesperson confirmed to Business Insider.