Vail Resorts Inc.’s new CEO announces big changes to company structure
March 14th, 2022 In an open letter to employees, Vail Resort Inc’s (Vail Resorts) new CEO Kirsten Lynch has announced several structural changes to the company. Among the changes is a $175 million investment into the company’s employees, including a new minimum wage of $20 an hour for all employees at all 37 North American locations. Vail Resorts has also committed to providing more affordable housing for their employees in mountain communities. The company is also committing to flexible remote work, granting office employees more flexibility in their schedules and work preferences. Finally, the company plans to double its merit increases for salaried employees from 3% to 6%.
Labor|Competition|New Activity|Structural|Discontinued ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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