BROOMFIELD, Colo. — Vail Resorts announced Thursday it will be laying off 14% of its corporate workforce as part of a cost-savings plan.
The Broomfield-based company said in a release shared by PR Newswire that the two-year Resource Efficiency Transformation Plan "is designed to improve organizational effectiveness and scale for operating leverage as the company grows."
The release said the company expects $100 million in annualized cost savings by the end of its 2026 fiscal year.
Part of the cost efficiencies the company expects will come from job cuts that impact less than 2% of the company's total workforce, including 14% of its corporate workforce and less than 1% of its operations workforce, the release said. There will be a 0.2% impact on frontline roles.
Impacted employees will have the opportunity to apply for open roles across the company, the release said.
"No matter how big or small the impact of position eliminations, we do not take lightly any decision that affects our team members," Vail Resorts CEO Kirsten Lynch said in a statement. "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."
Vail Resorts noted in the release that it has expanded significantly over the past 10 years, from 10 owned and operated mountain resorts to 42 across four countries, more than doubling the size of the company's workforce. The release said the two-year plan will "transform the company for future growth and global expansion."
