Portland vacation rental management company Vacasa laid off 280 people last week as it works to improve its financial position and boost its severely depressed share price. The layoffs represent about 3% of Vacasa’s total workforce, the company told trade publication Skift on Friday.
“We do not take these decisions lightly, but we continuously assess our business, striving to optimize our resources and teams to be efficient and align with our priorities,” Vacasa said in a statement to Skift, which first reported the job cuts.
Vacasa told Skift the layoffs were mostly in corporate jobs, which were historically concentrated in Portland. But Vacasa said Monday that is workforce has become more distributed geographically since the pandemic began as employees shifted to remote work.
Vacasa markets vacation rentals online and manages the properties for homeowners, providing cleaning, maintenances and other services. The company recorded $310 million in second-quarter sales, up 30% from a year earlier.