I don't understand why people are complaining in this forum about the lay offs. For over 2 years the company was reporting negative cashflow and inability to recover, and is a common sense that reductions would happen or will continue to happen. Everyone who wanted to leave had all the time to leave. 2-3 years is more than enough time to find a new job in a healthier financial sector.
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Only a slap nuts would post something as id--tic as that
Also executives were receiving dividends from their preferred shares: https://investors.sabre.com/news-releases/news-release-details/sabre-declares-dividend-mandatory-convertible-preferred-stock-8
Dividend! From a company that burns money only!
Yes, Sabre is in financial trouble, therefore layoffs might be necessary. People could complain and be bitter because:
- everyone got a fat bonus just less than two months ago
- we had an expensive leadership party in January
- hired expensive new leadership over the last few years from Ebay, Hulu, Square, etc..
- acquired new companies
- Sean Menke made $39 million in 3 years plus we had Kurt
- e-team compensation is ridiculously high for a struggling company with negative free cash flow, while some other company CEOs (Southwest) took no compensation
- again, leadership pay is always high, regardless of how bad the company is doing
- we could have taken a government bailout perhaps? Easy to say it in hindsight, but the 4.7 billion loan we have now could cripple the company for decade(s)
- the payout package during Covid was extremely generous for many director+ people who were only here for few years
So yes, it would be nice if companies tried to be a little more conservative and save a bit of money which then saves the "normal" employees, and in general, plan for the worst case scenario (which often happens) and not just for the "we are going to be a $ 5 billion company soon".
@xcl+1mvUKKI9 maybe offshoring the e-team could bring better results for Sabre. Amadeus rocks.
Agree. This is just part of the lifecycle of the business. I still work at Sabre and if I'm kicked out, I'll just look for another job. Simple as that. Take jobs for granted is stupid. Also Sabre's biggest problem is the abundance of dinosaurs from the 80-90 who did not adapt to new ways of working. I'm tired of seeing "job security by obscurity" attitudes everywhere.
Complaining are the people who think are superior but in fact whose only advantage is ...better English.
Should we celebrate then ?