Sabre is planning to cut its workforce of 10,000 by around 9%, according to a statement.

The release was put out in response to “media reports.” It appears as if The Straits Times in Singapore broke the news.

The statement said:

“Since our IPO in 2014, Sabre has been on a successful growth and expansion path, increasing revenue, making strategic acquisitions, and adding nearly 2,500 jobs, which equals more than 30 percent growth from our preIPO employment base.

“Sabre is a successful and profitable global company with more than $3 billion in annual revenue and worldwide operations. We operate in a dynamic industry and remain focused on building out our core capabilities for continued growth and success.

“From time to time we adjust staffing to meet business requirements and opportunities, just like any well-managed company must do. Over the last several months, we have had an open and ongoing conversation with our customers, employees and investors about our need to prioritize our product offerings and investment strategies.

“The job reductions being implemented amount to approximately 9 percent of our existing workforce of 10,000, including the elimination of certain open positions. We will continue to hire and grow with a focus on skillsets and needs that reflect business priorities.”

The statement does not specify which business units or geographies are impacted by the reductions currently being implemented. Sabre’s CEO Sam Menke, who took the top job in December 2016, has previously talked about “accelerating products and capabilities into the marketplace” and “decreasing investment or exiting areas that are not providing sufficient returns.”