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.
Sabre staff outside the US will participate in the compensation reduction on a voluntary basis.
The hit from the coronavirus outbreak will result in lower GDS incentives from segment fees and "a reduction in Sabre's approximately $250 million semi-variable technology hosting costs," Sabre says.
The publicly listed company will also suspend its quarterly cash dividend to shareholders.
Other cost-cutting methods include the temporary suspension of its 401K match program for employees and a scaling back of its cash retainers for members of the board of directors.
CEO Sean Menke says the industry is "facing challenges beyond what has been experienced before."
"We are fortunate that significant aspects of our cost structure are variable and are taking steps to help align our other costs with the current demand environment.
"We have identified and are in the process of removing over $200 million in cash costs from the business in 2020. Given the magnitude of travel decline and the unknown duration of the COVID-19 impact, we will continue to monitor travel activity and take additional steps should we determine they are necessary."