Vail Resorts will lay off 50 workers
Vail Resorts plans to lay off 50 workers and eliminate 100 vacant positions following a significant drop in advance bookings.
By Agencies |
VAIL: Vail Resorts plans to lay off 50 workers and eliminate 100 vacant positions following a significant drop in advance bookings.
In an e-mail to the company's 3,300 full-time employees, Chief Executive Rob Katz said the company isn't immune from the turmoil the overall economy is going through and can't stick its ``head in the sand.''
To save money, Vail Resorts will also stop matching employee contributions into their tax-deferred retirement funds and defer merit increases. Executives won't get any raises in fiscal year 2009.
The Broomfield-based company operates four resorts in Colorado _ Breckenridge, Beaver Creek, Keystone, and Vail _ as well as Heavenly Mountain in California.
In an e-mail to the company's 3,300 full-time employees, Chief Executive Rob Katz said the company isn't immune from the turmoil the overall economy is going through and can't stick its ``head in the sand.''
To save money, Vail Resorts will also stop matching employee contributions into their tax-deferred retirement funds and defer merit increases. Executives won't get any raises in fiscal year 2009.
The Broomfield-based company operates four resorts in Colorado _ Breckenridge, Beaver Creek, Keystone, and Vail _ as well as Heavenly Mountain in California.
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