Vail Resorts, the largest mountain resort operator in the world, announced this week that it is trimming its workforce as part of a two-year transformation plan.
The company said it is eliminating roughly 14% of its corporate positions and less than 1% of its operational workforce, impacting 0.2% of frontline staff. According to an SEC filing on Thursday, Vail employed roughly 7,600 year-round employees and 44,900 seasonal employees last fiscal year across its 42 resorts.
“No matter how big or small the impact of position eliminations, we do not take lightly any decision that affects our team members,” CEO Kirsten Lynch said in a statement announcing the move. “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.”
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The company says that employees whose jobs are impacted by the position cuts are welcome to apply for open roles at the company.
The layoffs are part of a broader “Resource Efficiency Transformation Plan” that Vail expects will save the company $100 million by the end of 2026.
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Vail says that it has expanded rapidly over the past decade, growing its resort portfolio by 32 owned and operated resorts while doubling its workforce. The ski resort operator says its transformation plan will better position it for further expansion.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| MTN | VAIL RESORTS | 180.64 | -7.35 | -3.91% |
“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,” Lynch said.
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