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Executives said they don’t expect those jobs to return.

“This decision is unprecedented in our 53-year history,” Southwest president and chief executive officer Bob Jordan said in a statement.

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“This is exciting for organizations because it creates new opportunities and pools of candidates ,” said Juliana Barela, a global operations executive and senior client partner with Korn Ferry RPO.

However, employer contributions are taxable income to the employee.;;; Executive Compensation ;Excise tax for excessive compensation (tax-exempt organizations, Internal Revenue Code Section 4960 ).

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Some of that may be due to bonus tenure requirements in an industry that has added a number of new workers recently.; ;Food and beverage companies paid bonuses to 6.8% fewer employees in 2024 — following significant recent wage growth in that industry, some companies may have needed to decrease their bonus budgets after increasing base wages.; The Role of Bonuses in Overall Compensation Strategy Bonuses and other variable pay are an especially popular compensation strategy in performance-oriented jobs or industries particularly focused on retaining skilled labor — and they spike during periods of economic growth, said Ruth Thomas, a pay equity strategist at compensation software and data company Payscale.

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A 2021 executive order enacted a $15 minimum wage for federal contractors .

Gap Taps Mattel Executive Behind Barbie Revival as Next CEO Gap is betting that an executive who helped make over Barbie can revive its apparel brand, the Wall Street Journal reports .