Sabre announces over $200 mln in cost saving actions and other measures to strengthen financial position in response to covid-19

Sabre announces over $200 million in cost saving actions and other measures to strengthen financial position in response to covid-19.sabre corp - has begun implementing several immediate actions with regard to its workforce and other costs.sabre corp - sabre is reducing third-party contracting, vendor costs and other discretionary spending..sabre corp - voted to suspend payment of quarterly cash dividends on sabre's common stock.sabre corp - announced suspension of its share repurchase program..sabre corp - withdrawn guidance provided on its february 26, 2020 earnings call..sabre corp - announced suspension of its share repurchase program.sabre corp - temporarily reducing base compensation pay for its us-based salaried workforce, including a 25% reduction for its ceo.sabre corp - reduction in cash retainer for members of its board of directors,.sabre corp - 401(k) match program will be temporarily suspended for us-based employees who contribute to its 401(k) program.sabre corp - has withdrawn guidance provided on its february 26, 2020.sabre corp - on a global basis, sabre is offering voluntary unpaid time off, voluntary severance and a voluntary early retirement program.sabre corp - drew down revolver in amount $375 million, which adds to existing cash balance of $436 million as of 2019 year-end.sabre- credit agreement permits co to suspend financial covenant related to maintenance of leverage ratio if "material travel event disruption" occurs.
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