Vacasa to eliminate 320 positions or 5% of workfroce

In a regulatory 8-K filing, the company stated: “On February 27, 2024, the Board of Directors of the Company approved a workforce reduction plan designed to align the Company’s expected cost base with its 2024 strategic and operating priorities and continued achievement of adjusted EBITDA profitability in 2024, against a wide range of macroeconomic outcomes. These changes reflect continued efforts to reshape the organization by streamlining the Company’s structure and reducing seniority levels across departments. The Plan includes the elimination of approximately 320 positions across the Company, in both its local operations teams and central teams, representing approximately 5% of the workforce, or approximately 2% of the local operations teams and approximately 6% of the central team. The Company expects to incur $4M-$5M of costs, consisting primarily of employee severance and benefit costs and professional services fees in connection with the Plan, most of which are expected to be incurred in the first and second quarters of 2024.”