Vail Resorts is cutting 50 year-round positions and leaving another 92 spots unfilled as part of cost-cutting efforts, the Summit Daily News reported. The newspaper serves the communities of Breckenridge, Frisco, Silverthorne, Dillon and the nearby resorts of Breckenridge, Copper Mountain, Keystone and Arapahoe Basin.


Vail, which owns Breckenridge and Keystone told the newspaper its is eliminating its match on employee retirement accounts and stemming pay raises -including those for executives.  

In a statement obtained by the newspaper, CEO Robert Katz cited the national recession and the credit crises as reasons behind the restructuring.


“All of this has combined to cast a cloud over our upcoming ski season,” he wrote. “In September, we reported that advance bookings were down significantly, and it is still unclear how much of that is folks delaying their bookings or deciding not to come at all this year. Combined, all of these points paint a cloudy picture for the foreseeable future.”


Two weeks ago Vail’s Canada-based rival Intrawest, which operates  Copper Mountain, confirmed it was laying off an unknown number of employees in the wake of a last minute refinancing deal.