Pros

While management is terrible, the line workers are very loyal, qualified and hardworking, they are the ones keeping the company afloat. Some units are still good places to work.

Cons

Sabre used to be a good place to work, but routine annual layoffs and offshoring have depleted the company of most of its talent. Most of the creative work has disappeared and now all we do is push through another day, "milking" what is left of a formerly great company.
The current manager is utterly unqualified to run a company, they couldn't seem to find a way to grow our business even when the whole market was growing, and all of our policies are now dictated by the finance organization.
Our leaders are selfish and completely lack any form of empathy, when the CEO announced the end of our pension plan he responded to the boos from the crowd saying "I know, I've lost my pension plan too" when it was public knowledge he made $ 17 million when the company was acquired..
This year a few high level figures got sacked by the new owners because of their faulty performance, yet the new guys in place are as bad or worse than the ones before them.
There are no career opportunities, the company is in shrinking mode and there are no positions you can grow into. The salary increases year to year range from zero to one or two percent (if you're lucky) and then you don't even get them annually. Last year I got my salary reviewed in March, this year I am still waiting. I will probably get like 1.5% by year end, which is less than 1% a year. Promotions are very unlikely.
Besides not having career opportunities, you career may be cut short at any time by a layoff.
Now there is new talks about yet another round of layoffs (last year we had a large one affecting 25% of the personnel at headquarters). I hope I make it through this one and that the economy picks up soon so I can find a job with a better company.

Advice to Senior Management

Stop the layoffs, this will give employees peace of mind and improve their productivity. Stop saying things like "the investors are counting on us" at townhall meetings. Isn't it time the investors do something for the people running their company?
Concentrate your efforts on growing the company, if you can't do it when our competitors are, maybe it is time for you to leave and bring other people to run the company.