Vail Resorts Will Lay Off About 50 Workers

By: Associated Press
By: Associated Press
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VAIL, Colo. (AP) -- Vail Resorts plans to lay off about 50 workers and eliminate nearly 100 vacant positions following a significant drop in advance bookings.

CEO Rob Katz told the company's 3,300 full-time employees this week that the company isn't immune from turmoil in the overall economy, even though it has worked to pay down debt and cut expenses.

Vail Resorts will also suspend matching employee 401(k) retirement fund contributions in 2009. Merit raises will be deferred and executives won't get raises during fiscal year 2009.

The Broomfield-based company operates Breckenridge, Beaver Creek, Keystone and Vail in Colorado, plus Heavenly Mountain in California.

Meanwhile, Aspen Skiing Co. is leaving about a dozen vacant positions open.

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