Sabre makes $200M in cuts to offset coronavirus impact

Travel tech provider Sabre has announced a large swathe of measures to mitigate the financial impact of the coronavirus outbreak. The cuts range from offering voluntary unpaid leave, severance and early retirement to staff across the world to scaling back its third-party contracting and vendor costs. U.S.-based employees will also face an undisclosed reduction on their base salary and CEO Sean Menke is taking a 25% pay cut. Staff in other country markets will also be subject to a reduction in compensation, the company says in a statement. The hit to the company's finances is coming largely from a decline in GDS incentives from segment fees and "a reduction in Sabre's approximately $250 million semi-variable technology hosting costs."