Sabre to cut 900 jobs worldwide following second quarter loss

Sabre to cut 900 jobs worldwide following second quarter loss

Travel tech giant Sabre is to lay off more than 900 workers, amounting to more than nine per cent of its total global workforce.

The news comes following a $6.5 million second-quarter loss at the company.

In a statement, the Texas-based company said it hoped the downsizing would result in $110 million in savings by next year.

The statement added: “Today, Sabre announced an initiative to streamline and focus the business through reorganising certain functions, reducing layers of management, and lowering costs to enable a more nimble, faster moving and focused organisation.

“Over the last several months, we have had an open and ongoing conversation with our customers, employees and investors about our need to prioritise our product offerings and investment strategies.

“It will enable Sabre to meet targets for 2017.”

Sabre posted a revenue jump of 6.6 per cent to $900 million for quarter two of 2017, ahead of analyst forecasts.

Go to Source
Author:Breaking Travel News

Powered by WPeMatico