Paying out nearly $30M USD in bonus payouts and more than that amount for retention bonuses with revenue down 74% and net air bookings down 87%? wtf?
7 replies (most recent on top)
Shifting offshore does not make a suite of products more relevant. What makes products relevant are visionary leaders, great technical talent, an organizational ability to translate customer needs, sharing a forward vision, and the right investment strategy. SM is doing this to save money both on employee costs, facility costs, and taxes. If you think otherwise, I feel bad for you as you clearly are not connected with global reality.
Good Timing to move from 90/10 to more like 95/5 and place more decision making authority in KRK / BLR. Finally make Sabre a Global player with a Global View rather than the closed in thinking of Southlake being the center of the universe. I know this is not a popular opinion but is required to keep Sabre relevant.
SM does what he wants and just makes excuses to fit the narrative.
Doesn't mean its always right, just means thats what he wants. Everyone should be used to this by now.
In this case and since he acquired the extra financing, he's been pretty loose with the cash he was given. He's always wanted to restructure, make deep cuts and move to a 90/10 IT structure (90 percent offshore or outsourced). The tragedy just gave him the platform to do if quicker.He's not at his ultimate goal yet, but he's made good progress. Time for a pat on the back
I guess Sabre must have some good cash reserves on hand. To paid for all the bonuses, future pay raise and VCP. Sabre just needs to sell more of their stock.
huge number indeed. but in Indian rupees :)
Huge salary increases must be coming for all in KRK and BLR