Posted on 10/28/2003 10:25:29 AM PST by Willie Green
For education and discussion only. Not for commercial use.
Southlake-based Sabre Holdings Corp. said it plans to let go of more than 500 workers as it aims to cut costs.
The company had said last month that it would announce layoffs this quarter, but at the time did not specify the number of cuts it was planning.
The work force reductions -- Sabre's fourth round of layoffs in the past four years -- are expected to save the company about $80 million next year, according to reports.
Roughly 3,500 of Sabre's 6,500 employees are based in the Dallas-Fort Worth area. A bulk of the layoffs are expected to come from the Sabre Travel Network unit, according to reports.
Sabre, which owns the Travelocity Web site and operates the world's largest electronic travel reservation system, has been under pressure to trim costs.
In a recent cost-cutting move, the company said last week it will shutter the headquarters of its Travelocity unit in Fort Worth, as well as the Irving office of another Sabre unit, GetThere, and ship hundreds of employees to Sabre's corporate campus in Southlake and Westlake.
And, in another cost-cutting effort, the company announced Sept. 16 it would dissolve GetThere, its corporate travel technology unit, and fold the products into its three other units. Sabre said then that the measure could lead to job cuts at the GetThere unit, which employs 350 in Menlo Park, Calif. GetThere sells software used in corporate travel systems.
Company Web site: www.sabre-holdings.com
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