© 2024 KLCC

KLCC
136 W 8th Ave
Eugene OR 97401
541-463-6000
klcc@klcc.org

Contact Us

FCC Applications
Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations

Portland-based Vacasa to cut 800 jobs

An A-frame in the woods
Courtesy of Vacasa
A file photo of a Vacasa-operated vacation rental, shared by the company when it went public in 2021. The company announced plans Thursday to cut 800 jobs, though most are not based on Oregon.

Portland vacation rental company Vacasa is laying off 800 workers – though most are not based in Oregon. The cuts represent 40% of Vacasa’s corporate and central operations jobs, and about 6% of its field personnel, the company announced in a letter sent to shareholders Thursday.

These layoffs come after a punishing start to 2024 for the company.

In the first three months of the year, Vacasa reported a net loss of about $141 million dollars.

Fewer travelers are booking stays at its listings, and when they do book a vacation rental the price per night is often less than the company forecast, Vacasa leaders told shareholders. And officials say they don’t expect to be profitable this year.

The company also cut 320 jobs in February, and laid off 1,300 workers last year. About 5,400 workers will remain on Vacasa’s payroll after this round of layoffs. The company employed about 7,700 people at the start of 2023.

Copyright 2024 Oregon Public Broadcasting

Courtney Sherwood