Sabre stock dropped 10.5% today after the Q2 earnings were reported.
The execs knew that the Q2 earnings were sub par and that the stock would drop significantly after the earnings were announced. So they timed the 9% layoff to coincide with the earnings. Reason being usually stocks go up once a layoff is announced.
However in this case the ploy did not work. The market saw through the cheap trick and the stock dropped 10.5% today.
Thing is that this drop has no impact on the hard working employees who don't own any stock. Only the execs were impacted by this.
I would not be surprised if there is another cut in 91 days.