Alterra Mountain Company Announces Furloughs, Layoffs and Cutbacks (50% Planned Capital Expenditures Postponed)

Alterra Mountain Company Announces Furloughs, Layoffs and Cutbacks (50% Planned Capital Expenditures Postponed)

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Alterra Mountain Company Announces Furloughs, Layoffs and Cutbacks (50% Planned Capital Expenditures Postponed)

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After a similar announcement from Vail Resorts last week we were just waiting for one from Alterra Mountain Company, which owns 15 North American ski resorts. Sky High News reports CEO Rusty Gregory wrote in a letter they will furlough year-round employees who cannot work due to ski area closures caused by the coronavirus and “the prospect of zero revenue for the foreseeable future. ” 

The plan went into effect Saturday:

“Year-round employees in the U.S. who are unable to perform their work at either home, resort or office due to work restrictions aimed at mitigating the spread of the virus will not receive pay. They will remain an employee of their resort or business but will be listed on payroll for ‘zero hours’ and will not be working until these restrictions are lifted.”

Alterra had already laid off 17,000 seasonal employees with the closure of their ski resorts due to the COVID-19 pandemic. Company spokeswoman Kristin Rust said she didn’t know how many year-round employees will be affected by furloughs. Alterra has reduced operating expenses across the board with more than 50% of previously planned capital expenditures postponed.

 

 

 

 

 

 

 

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