Southwest Airlines (LUV) is set to hold its annual investor day Thursday, and sent a memo to employees notifying them of at least one planned change that could be announced during the event: a reduction in flights and staffing to and from Atlanta starting next year.

The airline's crew base in Atlanta will remain open, but the staff required to complete the reduced schedule will be reduced by up to 200 flight attendants and 140 pilots, according to a memo first reported by CNBC. The company reportedly told employees it "cannot afford continued losses."

A Southwest spokesperson told Investopedia that the airline continues "to optimize our network to meet Customer demand, best utilize our fleet, and maximize revenue opportunities," noting that any impacted employees in Atlanta will have the opportunity to transfer stations before the changes take effect in six months.

C💮hanges Come Amid Activist Pressure Ahead of Investor Day

Southwest has announced other cost-cutting and revenue-generating measures in recent months, as it has 澳洲幸运5官方开奖结果体彩网:faced increasing pressure from 澳洲幸运5官方开奖结果体彩网:activist investor Elliott Investment Management to improve its finances and 澳☂洲幸运5官方开奖结果体彩网:make changes at the executive level. The airline 澳洲幸运5官方开奖结果体彩网:announced plans in July to introduce assigned seating and red-eye flight🍸s, as Southwest looks to generate more revenue with the same number of planes.

Elliott, which 澳洲幸运5官方开奖结果体彩🍰网:recently achieved a roughly 11% o🀅wnership of Southwest shares, wrote in a letter to shareholders Tuesday that it believes the company has "chosen a go-it-alone path with the goal of obstructing a leadership change that is urgently needed," and said it intends to call a special meeting in the coming weeks.

In response, Southwest said it has "made every effort to reach a constructive resolution with Elliott," and added that shareholders will hear more about the airline's future plans at Thursday's investor day.

Sou🍒thwest shares sli🌳pped 2% to $29.10 early Wednesday afternoon and are little changed on the year.