Charter & Fractional
Wheels Up Announces $30M in Cost-cutting, Layoffs
Wheels Up says cost-cutting plan will save $30 million without impact to operations.
Wheels Up Citation Excel business jet on approach to landing
Wheels Up announced that it is implementing a restructuring plan it expects to produce $30 million in annual savings by laying off non-operations staff. For the first nine months of 2022, Wheels Up lost $276.5 million versus $121 million in the same period in 2021.

One week ahead of releasing its 2022 financial results, Wheels Up announced that it is implementing a restructuring plan it expects to produce $30 million in annual savings. The company revealed the plan via an 8-K filing with the U.S. Securities and Exchange Commission (SEC) on Wednesday.

In the filing, Wheels Up said the plan “is intended to streamline the company’s organization and reduce headcount in areas of the business that do not directly impact the company’s operations or its customers’ experience…Excluded from these actions were key operationally focused employee groups such as pilots, maintenance, and operations-support personnel.” 

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