Photo: Change.org.
Vail Resorts has announced it’s laying off 14 percent of its corporate staff in an effort to save the company an estimated $100 million over the next two years. The “two-year Resource Efficiency Transformation Plan” with their recent quarterly report which revealed losses in revenue and decreased visitorship throughout Vails’ 42 ski resorts.
Jobs in accounts receivable, payroll, and IT will be consolidated or outsourced and the company says less than two percent of its operational workforce will be impacted by the cuts. The Colorado-based company is the largest ski resort operator in the world with more than 7,000 year-round employees and just under 45,000 seasonal employees through the 2024 fiscal year. The number of skiers and snowboarders visiting those 42 resorts in that same period dropped 9.5 percent and the company’s stock reportedly fell by 20 percent from a year ago. They say this new “Resource Efficiency Transformation Plan” will position the company to continue growing even in the face of revenue losses and decreased visitorship, according to a news release.
“We believe this is a natural progression and next step for our company, that builds upon our success and paves the way for the next phase of growth,” said Vail Resorts CEO Kirsten Lynch. “Our mission: to create an Experience of a Lifetime for our employees and our guests, galvanizes our company, as does our commitment to reinvesting for growth.”
Vail Resorts has expanded at a tremendous pace in just the past decade, growing from just 10 owned and operated resorts to the 42 mountain resorts they own now. Their workforce has more than doubled in size through that time, but the new cost efficiency and position elimination plan will only affect less than .two percent of its frontline workers at resorts.
“No matter how big or small the impact of position eliminations, we do not take lightly any decision that affects our team members,” Lynch said. “Our team members are the core of our mission to create an Experience of a Lifetime, and we have tremendous gratitude for their passion and commitment to our mission, our mountains, and our guests.”
