I would make the case that the new tax laws will generally benefit all Sabre employees, but some more directly than others. Should you buy a house? Maybe. I'll get to that.
First, keep in mind that Sabre is an investment vehicle created by shareholders for the sole purpose of earning profits for themselves. Those shareholders do many things with their money: some is cash savings, some is donated to charity, and much of it is invested. That money is diversified across many types of investments that will give them varying levels of risk and return (e.g. stocks, bonds, real estate, or travel technology companies). One of the conditions for Sabre of being allowed to exist at all, and getting this money from investors, is recognition that our whole purpose of existence is to give them as high a return on their investments as possible. So when you see the company making decisions that seem to primarily benefit shareholders, or see us laying folks off or off-shoring more of our labor, that is happening in order to boost ROI. In turn, that gives investors more confidence in our business, which means we A) get to keep existing, and B) get even more money from them in the future, so more people can have jobs, and we can invest in more parts of the business.
This is important to keep in mind when we think and talk about what Sabre does with the money it has. Although we all might say "I want more money in my pocket today," that's actually not in our best interests long-term. Sabre could give 8,000 employees a $1,000 gift like AT our teams already do a great job maximizing profitability through various tax avoidance strategies. Although the income tax level is 35%, we got away paying about 26.4% in 2016 thanks, for example, to carrying forward our operating losses from prior years. (This is the same thing President Trump does, and the reason it is often assumed he pays little, if any, federal income taxes.) We have another $700+ million in losses to still carry forward, and our taxable earnings are about $330 million. So, in summary, we're in a great tax position, and this just makes us stronger. So we'll be looking closely at how the change in federal rate affects our strategies, and certainly you can expect to see lower tax numbers in our 2018 filings.
That will be good for employees because it makes the company more healthy, and gives us the flexibility to invest in the places it counts the most. To realize the benefits of this we have to consider what everyone's interests are, and where those interests overlap and where they differ. Employees may want higher salaries, but the benefit to shareholders of raising salaries is ~ 0%. A salary is what it is because we know we can get the labor we need for that price, and if someone doesn't like it, we know we can replace them with someone willing to do the same job for less money. Why would shareholders give money away to employees who are working to make them money? (Our largest shareholders are often very charitable with other causes, but prefer to do so personally as opposed to "giving" in the form of higher salaries to employees.)
On the other hand, Sabre can use that same money to change the dynamic of how we make money, invest in more areas of the business, hire for positions that we might not otherwise be able to, and position ourselves to maximize success in the long run. In that respect, our interests should be aligned, since the more successful the company is, the more opportunities there are to move around within it, find new and interesting work to do, and receive pay raises. Job security is nice, too. But these are not "direct" benefits to employees from the company. Again, I would argue that it is to employees' benefit as a whole that Sabre invests in the future of the company, rather than giving away cash just because we happen to have it.
Also, keep in mind that Sabre does not have a windfall TODAY, but will see that in time once we start making payments for the 2018 tax year, which is when all of this takes effect. (Nothing changes for any of us until January 2018, and we don't file differently until we are in 2019 doing next year's taxes.)
So what should you do with this information? You should assume that Sabre is in an even stronger position than we were a a year ago, and not because of tax legislation, but also our phenomenal financial performance. You should also weigh that assumption with the knowledge that there is inherent risk in any employment situation, and measure that against what you know about your work situation and performance. Finally, compare it to what you're hearing from your senior leaders about the state of things. Trust me, we are all aligned on where things stand for Sabre as a whole, and we're all feeling pretty good about it.
Should you buy a home now? If you feel comfortable with the inherent risk of buying a home, and can afford to buy, then I say go for it. It's highly unlikely you're going to be employed at one company for the whole duration of your mortgage no matter which company it is, so despite the bit of uncertainty you may naturally feel about our company, I wouldn't personally let that stop you if home buying is otherwise the right call to make.
Many financial planners recommend having 6 months of living expenses saved up at any given time. I tell my family and friends that before you take on a large debt like a mortgage, have that 6 months ready to go. I know it can be tough to have a down payment plus 6 months of expenses, but if you want to be layoff-proof, that's an important step. Imagine rather than the stress of "how will I provide for my family," you were in a situation of "OK, fine, no more job to go to, we'll be fine for a while, and I can focus on finding the best fit for my next position." It's way better that way!
In closing, things are not "unstable" at Sabre. We're in a great place and optimistic for the future.