Vacasa axes 1,300 employees as focus shifts to profitability
PORTLAND, Ore. (KOIN) -- Portland-based company Vacasa announced it cut roughly 17% of its workforce, which is about 1,300 people, as it looks to rein in costs.
The vacation rental property management company said the "reductions were strategically made across the company." A Vacasa spokesperson told KOIN 6 that around 240 employees were affected in Portland.
In a company-wide email on Tuesday, CEO Ron Greyber said the decision was made in large part to reduce costs in hopes of becoming a profitable company.
"I am deeply mindful of the impact of this decision and made it with careful consideration, said Greyber, adding "Looking forward, while these changes are difficult, they are the right decisions for our business. We have crafted our choices to maintain the strong service levels our owners and guests have come to expect from Vacasa."
The impacted employees were promised severance packages and continued healthcare benefits.
Although Vacasa has readjusted its focus, investments and resources in recent months, Greyber said the company still has a way to go.
"Vacasa is privileged to have an extraordinary opportunity ahead. I am committed to us reaching our potential by operating Vacasa with greater focus and discipline, building a company able to thrive in any season."
About 3% of Vacasa's workforce, or 280 employees, were laid off in October.