Vail Resorts plans to lay off 50 workers, suspend raises
Vail Resorts Inc. said it will lay off 50 workers and suspend raises and some benefits for many of the people it employs year-round.
The Broomfield-based ski-area operator revealed its plans in an e-mail sent by CEO Rob Katz to the full-time staff of 3,300. He reiterated concerns about advance bookings dropping significantly at its resorts so far this season.
“We find ourselves at this moment in an unprecedented environment,” Katz wrote in the e-mail. “Our company will not be immune to the economy around us, and it is imperative that we not stick our head in the sand about some of the bad news that is out there.”
Katz said the company also will eliminate almost 100 vacant positions.
As part of Vail’s steps to deal with the economy, it will suspend its match of employees 401(k) retirement fund contributions. Merit increases will be deferred, and executives won’t get salary increases in fiscal 2009.
By JOANNE KELLEY
Rocky Mountain News