Southwest Airlines is offering buyouts and extended leave for airport employees to avoid what it calls “overstaffing in some locations,” which it attributes to a shortage of new Boeing planes.

Monday’s move comes as a hedge fund is pressuring Southwest to boost profits and boost the stock price, which has fallen sharply since early 2021.

A South West spokesperson said offers of “voluntary separation” were limited to 18 airports. The company declined to identify airports or say how many jobs it hopes to cut.

All targeted jobs are in ground operations, including customer service agents, baggage handlers and cargo workers. Pilots and flight attendants are not included in the buyout offer, the spokesperson said.

Southwest officials said the Dallas-based airline plans to finish this year with 2,000 fewer workers than it started. That’s after Southwest grew from 66,600 to nearly 75,000 employees last year. The figures include part-time workers for half.

“Southwest has reduced overall capacity to meet demand with a limited fleet due to aircraft delivery delays,” the company said in a statement. “Providing voluntary redundancy and extended leave for contract and non-contract employees, as well as a continued slowdown in hiring, will help us avoid overstaffing in some locations. »

Southwest initially expected about 85 new Boeing 737s this year, but reduced that number to 20 due to production problems at Boeing that began after a panel exploded on the side of an Alaska Airlines 737 Max during ‘a flight in January.

The Southwest fleet consists solely of Boeing 737s, including the Max and older versions of the aircraft.

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Starting in June, hedge fund Elliott Investment Management acquired an 11% stake in Southwest and pressed the airline to improve its financial performance. The two sides reached a truce last month to avoid a proxy fight, but Elliott won several seats on Southwest’s board, which he can use to keep pressure on CEO Robert Jordan and other executives .

Even before Elliott, Southwest limited hiring and stopped serving several airports to save money. It also announced plans to target premium travelers.

Southwestern stocks were up 3% Monday and 13% this year. That’s far behind the 117% jump at Delta Air Lines and the 58% gain at United Airlines.

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