Vacasa (NASDAQ:VCSA) layoffs are a hot topic on Friday after the vacation rental management platform operator announced another round of layoffs.
The Vacasa layoffs have the company cutting 800 jobs, which comes to about 13% of its current workforce. This covers 40% of its corporate and central operations roles. The layoffs also affect 6% of its “local market field positions.”
Here’s a portion of what Vacasa said in its shareholder letter announcing the layoffs:
“With difficult industry dynamics continuing, we are accelerating the business transformation that is already underway — to further empower and enable our local teams, with the goal of strengthening our business model. We are implementing a reorganization of the way we operate, by further equipping our field teams to locally manage, and be accountable for, their markets. And, we are significantly reducing our corporate and central operations footprint.”
Growing Vacasa Layoffs
Investors in VCSA stock will likely remember that this is the fourth round of layoffs announced by the company in the last couple of years. That’s worth noting, as September 2022 was when Rob Greyber took over as the company’s CEO. Greyber has been enacting a transformation plan to streamline operations as homeowner churn weighs on its business.
VCSA stock is down 8.2% as of Friday afternoon and is down 24.4% since the start of the year.
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
