Alterra Announces Furlough For Year-Round Employees
Alterra began seasonal layoffs early due to the COVID-19 outbreak. On March 14th, the day it was announced that Colorado Governor Jared Polis ordered the state's ski areas and resorts to close on March 15 as a measure to help stop the spread of the virus, Alterra laid off 17,000 employees. This was almost a month earlier than seasonal employment normally ends.
There has been no word given as to just how many year-round employees are affected by the furloughs. However, Gregory did say that his own pay will also change until the year-round staff makes a return to work.
Beyond this, Alterra has also begun to cut operating expenses throughout the company, including nearly 50% of planned capital improvement projects, which were announced just four days prior to the closing. That initial announcement was about a plan to spend $223 million company-wide on capital improvements.
This announcement on how Alterra Mountain Company is handling the financial end of the COVID-19 closure comes after Vail Resorts, Inc. made a similar announcement regarding employment status and pay, as well as the cancelation of their own improvement projects.
Photo: Stratton Mountain, Vermont, An Alterra Mountain Company Property - Credit: Stratton Mountain Resort/FB
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