Vail Resorts lays off 14% of corporate staff following quarterly report

Climate change, the lack of snow and the pandemic have affected the ski resort industry, and they are trying to recover in different ways. After its quarterly report, Vail Resorts has announced it’s laying off 14 percent of its corporate staff to save the company an estimated $100 million over the next two years in a ”Two-year Resource Efficiency Transformation Plan.” All of Vail’s 42 ski resorts are included in the savings plan.

Jobs in accounts receivable, payroll and IT will be consolidated or outsourced, and the company says the cuts will impact less than two percent of its operational workforce. Colorado-based Vail Resorts 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 their 42 resorts in that same period dropped 9.5 percent, and the company’s stock reportedly fell by 20 percent from a year ago. According to the company, the new “Resource Efficiency Transformation Plan” should enable the company to continue to grow even in the face of falling sales and declining visitor numbers. 

“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 growth phase,” 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.”