MAY 11, 2024 — 800 EMPLOYEES TARGETED
The company has announced a restructuring initiative with a major 13% headcount reduction. The reduction in force will impact 800 employees.
According to CEO Rob Greyber, the restructuring is “significant” and means “we will be parting ways with a lot of talented and hard-working people who have made many meaningful and lasting contributions to Vacasa.”
“This is not easy and I recognize the impact these decisions have on people’s lives and those they care about. We will offer severance and other support to those impacted by today’s announcement. I hope you’ll join me in wishing them well in their future endeavors, and I am very grateful for their efforts and contributions"
"We have significant work ahead of us to drive the success of this transformation. It will not be easy and will require precision in execution. However, following the transformation, we believe the business will be much leaner from an expense perspective, and better positioned for the future."
It appears that the action is being driven by an activist investor, Davidson Kempner Capital Management, who may seek to act in an advisory capacity to “explore, plan or make proposals around matters including board composition, corporate structure, strategic transactions, and other plans.”
JANUARY 24, 2023 — 1.300 EMPLOYEES GONE
In a second round of layoffs, the company laid off 1,300, or 17% of its workforce.
Newly-appointed CEO (September 2022) Vacasa CEO Rob Greyber noted…
When I joined Vacasa in September, some opportunities for improvement were immediately clear. As a result, we made rapid changes in how we organize, how we work, and where we put our focus, investment, and resources.
Now, having taken more time through our annual planning process, it is clear to me that Vacasa has more work to do. As part of this, we need to reduce our costs and continue to focus on becoming a profitable company.
As a result, I am announcing the reduction of approximately 1,300 roles across the company or about 17 percent of our total workforce.
I am deeply mindful of the impact of this decision and made it with careful consideration. I am grateful to the colleagues impacted by today’s announcement, who have already been notified, and to their many contributions to building Vacasa into the company we are today.
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. As I have said before, I am optimistic about Vacasa’s potential. Because of that, I am equally focused on improving and accelerating our pace of execution across the company.
NOVEMBER 4, 2022 — Original post…
Portland, Oregon-based Vacasa, an international vacation rental management company, is undergoing the type of management and employee changes one might expect with a newly hired CEO trying to impress the Board of Directors and investors.
The reduction in force impacts 280 employees.
According to a company spokesperson, “Vacasa has made the decision to initiate a workforce reduction. This affects approximately 280 team members, primarily within our central teams, representing about 3 percent of our total workforce. We do not take these decisions lightly, but we continuously assess our business, striving to optimize our resources and teams to be efficient and align with our priorities.”
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?
