Vacasa to Lay Off 320 – 5% of Workforce; COO to Leave [Yahoo! Finance]
Vacasa, Inc. (VCSA)
Company Research
Source: Yahoo! Finance
The layoffs are “designed to align the Company's expected cost base with its 2024 strategic and operating priorities and continued achievement of adjusted EBITDA profitability in 2024, against a wide range of macroeconomic outcomes,” Vacasa said. “These changes reflect continued efforts to reshape the organization by streamlining the Company's structure and reducing seniority levels across departments.” See the email that Vacasa CEO Rob Greyber sent to employees about the staff cuts embedded below. The downsizing occurred as Vacasa posted a net loss of $76.5 million in the fourth quarter compared with a loss of nearly $302 million a year earlier. Banczak, an industry veteran who became chief operating officer in October 2022, will stay on through March 31, and will serve as an advisor until September 30. Vacasa contracted an executive search firm to find a new COO. Vacasa broke down the layoffs like this: They represented 5% of the overall workforce, including 2% of the local
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VCSA
News
- Vacasa to Announce First Quarter 2024 Financial Results on May 9, 2024Business Wire
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VCSA
Earnings
- 2/28/24 - Beat
VCSA
Sec Filings
- 4/25/24 - Form 8-K
- 4/22/24 - Form SC
- 4/11/24 - Form 144
- VCSA's page on the SEC website