Vail Resorts told investors Thursday it plans to cut 14% of its corporate workforce as part of a two-year plan to save $100 million in operating costs.
In total Vail is cutting 2% of its total workforce, which spans across 42 resorts in North America, Australia and Europe.
The Broomfield, Colorado-based company said less than 1% of frontline roles will be eliminated. According to a recent tax filing, Vail employs around 7,600 year-round staff.
The job cuts follow a winter season in which skier visits to Vail’s properties declined over 9% compared to the prior year. Epic Pass sales for the upcoming winter are also down 3%.
Vail Resorts CEO Kirsten Lynch attributed the downturn to unfavorable weather conditions in North America and Australia. Lynch also said ski resort visitation is normalizing after reaching a record high in winter 2022-2023 following the COVID-19 pandemic.
“In North America, snowfall across our western resorts was down 28% from the prior year and our eastern U.S. resorts experienced limited natural snow and variable temperatures,” Lynch said.
Vail’s stock price has decreased 20% over the past year. The company is in the middle of one capital project in Park City. A new 10-person gondola will replace the Sunrise lift in Canyons Village starting in the 2025-2026 season.
