Heard from a friend of mine. Furlough will turn into a layoff soon. Nuff said. Period.
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Im currently furloughed.
I'd be fine with being laid off.
This company bites. Just give me my
severance and i'll happily leave.
I dont need or want to deal with this BS anymore. It's a big world folks lets enjoy it
With airlines and hotels announcing layoffs of up to 30percent or more of their current workforce, travel volumes will likely be about 30-40% lower than what they used to be at least in the short run or at least a proxy of volume... Whether Sabre has the money or not is one thing. Whether Sabre needs you for this world of reduced travel is definitely a separate issue.
Don't be ridiculous.
The salaries were only reduced in March in Q1. That is only 1 month. If you claim Sabre can save $200m in Q1 by reducing salaries for just 1 month then you claim Sabre can save 12x $200m by reducing salaries for 12 months. That is $600m per quarter and $2.4b per year. The annual total cost is only $500m based on the 2019 numbers!
The $200m is just the total available variable labor costs savings available from the $500m total estimated for 2020 based on the $500m 2019 costs. It includes everything, the pay cuts, the 401k reduction, the layoffs, the retirements, the furloughs, people quitting, and whatever other future plans we have not been told about.
If Sabre reduces those costs by $200m per year, from their original $500m, then Sabre has 18 months of cash to survive on.
Is there a recommended website to create an untraceable email address?
The “$200M One-time or Temporary Headcount-Related Savings” refers to the 15-25% salary reduction that occurred in Q1. This does not include savings due to furlough which will be reported in Q2.
https://www.marketwatch.com/story/sabre-to-cut-200-mln-in-costs-by-temporarily-cutting-pay-suspending-dividend-and-halting-buybacks-2020-03-20
Airlines are at 90% capacity which forecast not much better so there is no way the furloughed employees will return anytime soon. In regards to page 12 of the presentation — $50M for "Permanent Headcount-Related Savings1" is the approx 300 people that volunteered to leave the company. The $200M One-time or Temporary Headcount-Related Savings does not make sense as there were approx 3500 furloughed for 2 months and the company is saving approx $60k per furloughed employee in 2 months time-frame. In order to save $200m they need to either extend the furlough for a total of 6 months or in my opinion they will lay off 1,250 employees and the temporary savings becomes permanent which is the better choice in this economy.
We have an update in our Fidelity account that terminated plan members will be charged a $56 annual fee.
We are inching towards termination like a Jawa sandcrawler.
Hopefully soon. I dont want to accept other position without taking my severance before.
@1ige+14Wl8SNu
Yup, nothing about our cutting-edge software, or top-shelf engineers. That's a technology company allright.
I may be wrong, but I think that 'permamanent headcount related savings' on slide 12 could refer as well to numerous team members who are leaving Sabre now (took severence, earlier retirenment options).
On another slide you can find : Confident the strength of our liquidity position, flexible cost structure, longstanding customer relationships
and experienced management team will allow Sabre to endure this period of prolonged uncertainty.
Not that I fully trust this optimistic statement...but it's there ;)
If they lay me off, I'll just take what I know and start sending anonymous emails to certain contacts at our customers. There's alot of things Sabre doesn't want them to know.
All just rumors.
I'm just glad to have a job here. I cannot lose my job here. My family in India depends on me. I am very thankful of such a great company.
Sorry, page 12
Well, before you chastise your colleague here for his views, why don't you inform yourself - take a look at page 11 of Sabre's Q1 earnings presentation, 3rd column if need more guidance. I think you'll find the poster's views are substantiated.
https://investors.sabre.com/static-files/7bb14561-fda2-498b-8b40-fd3ba8edbfc6
ahh, friends that know everything are the most useful friends to have. Is this the most stupid post of them all? Asking for a friend
CEO confirmed yesterday that the savings plan includes current pay reduction and furlough. How much 18 months of furlough differ from a layoff?
is this a friend of a cousin that has a neighbor who talk to someone really close to a C level exec?