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Vail Resorts furloughs 65 employees at Colorado bike shops

Published April 8, 2020

BROOMFIELD, Colo. (BRAIN) — Vail Resorts, the ski resort, real estate and retail giant, told Colorado officials Wednesday that it has furloughed 65 employees at its Bicycle Village stores in Aurora, Boulder and Littleton, Colorado. The bike shop furloughs are part of the approximately 2,000 furloughs or layoffs announced by Vail on April 1.

The company said the Bicycle Village employees have been placed on a temporary leave of absence. The company said it expects the furloughs to end within six months but does not have a specific date because of the evolving state orders in response to COVID-19. Vail closed all its ski resorts and resort retail and lodging businesses in March.

On April 1, Vail announced that it would furlough the majority of its U.S. year-round hourly employees for at least a month. It said it would be continuing healthcare coverage for these employees, including covering the entire cost of their healthcare premiums.

Vail also announced April 1 that it was implementing a six-month salary reduction for all U.S. salaried employees, with reductions beginning at 5% and rising to 25% for top executives.

CEO Rob Katz said he and the company's board of directors would forego their cash compensation for six months. 

Vail owns and operates 37 ski resorts in the U.S., Canada and Australia. Its stock is traded on the New York Stock Exchange under the symbol MTN.

Topics associated with this article: Coronavirus

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