It's shocking to see how many individuals in positions of power are thoroughly unqualified for their roles. It's like Sabre is intentionally setting itself up for failure. Also, using layoffs as a budget management tool so often is a recipe for disaster! As a result, there are very few competent employees left to handle the workload after years of this terrible practice.
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re: @bge+1mw9OU0t
it's certainly much better to have been riffed in 2020 than it is this time around. not only was the severance package a little better, the job market was, too.
Amazing how the 800 Impacted in 2020 was supposed to realign for a much stronger future. Now it’s 1100, how long before buzzard’s are picking over valuable bones to grab at a cheap price to help pay the huge debt? New Mgmt not war time minded, just cut heads to make shareholders (including themselves) happy. Best of luck to all till we can move on…
SABRE has many problems.
Most are not new/news, not COVID related or not due to Boeing-737 Max crash or downfall of Etihad.
Big problem is the Mountain of DEBT the company is sitting ever since it went public and other crisis like pandemic have only compounded this problem.
One Trick CEO, who knew nothing but layoffs, for every $1-2 fall in stock price the company had layoffs. May be Sam G might have resisted mindless firings earlier and they installed Butin.
In wisdom of new supreme leader VishSoji gets to be CTO after running a call-center and Dave Shirks gets promoted to run everything, I guess just for being Dave Shirk.
Un-need acquisitions, often costly and adventurism like FareLogics.
Nepotism and ugly politics is at every level and in all divisions. Regular layoffs and seasonal Re-ORGs make the conditions right for this game. A VP's son might be "Heir"-ed as an INTERN and jacked-up to his entitled MANAGER seat in couple of years by his friends. Failures and mess-ups oddly never seem to effect promotions and even bad behavior like conflict of interest are overlooked.
Marketing,...... If you know you know
sabre doesn't really compare with most of the tech companies like meta and google that have announced layoffs. not only were those companies profitable but they were also overstaffed. sabre is neither
I can agree with you, but I don't think these layoffs are disaster for this company. Many tech companies are laying off employees nowadays often 10-20%, but in fact they are in good financial condition. 15% of workforce is it not much in this situation. Other companies just want to use an opportunity to use their power to reach higher profitability. But Sabre has problems with weak rebound after COVID, high debt. Fed is rising interest rates, and no one knows how long these high interest rates will be. The company have a lot of debt to refinance in 2024, 2025. Currently its credit rating is BB - junk. They need to pay a significant premium for their debt. The financial future of Sabre highly depends on future interest rates. Maybe there will be a luck and the inflation starts to decrease and Powell starts to lower interest rates soon.