Company that owns Winter Park, Steamboat announces furloughs, layoffs and other cutbacks

Alterra Mountain Company owns 15 North American ski areas

Alterra Mountain Company, which owns 15 North American ski resorts including Winter Park and Steamboat, will furlough year-round employees who cannot work due to ski area closures caused by the coronavirus and “the prospect of zero revenue for the foreseeable future,” chief executive Rusty Gregory wrote in a letter to employees on Thursday.

The plan takes effect Saturday.

“Year-round employees in the U.S. who are unable to perform their work at either home, resort or office due to work restrictions aimed at mitigating the spread of the virus will not receive pay,” Gregory said. “They will remain an employee of their resort or business but will be listed on payroll for ‘zero hours’ and will not be working until these restrictions are lifted.”

Alterra laid off 17,000 seasonal employees on March 14, the day Gov. Jared Polis closed Colorado ski areas effective the next day. Seasonal employment at Alterra’s Colorado mountains typically ends in April.

Company spokeswoman Kristin Rust said she didn’t know how many year-round employees will be affected by furloughs that begin Saturday.

Alterra has cut operating expenses across the board, Gregory said, and more than 50% of previously planned capital expenditures will be postponed. Previously announced improvements for 2020-21 included the renovation of the mountaintop Sunspot restaurant at Winter Park and a large terrain expansion at Steamboat. Rust said she didn’t know if those projects would be affected.

Year-round employees affected by the furlough beginning Saturday will continue to receive health benefits and will be assisted by HR personnel in applying for new federal and state unemployment assistance programs created in response to the pandemic.

“While I will continue my work as your CEO, I will go without a paycheck until each of our year-round staff returns to work,” Gregory wrote. ” All other employees able to continue working will receive their full pay rate, with the understanding that this situation is fluid and we need flexibility to react as things change. While it is my fervent intent to avoid reducing anyone’s full pay rate for work going forward, we do not know how long this crisis will continue, and it is imperative that we ensure that our finite resources last long enough to get us to the other side of this pandemic and fully open for operation when the time comes.”

On Wednesday, Vail Resorts announced furloughs and salary reductions for its employees.

By John Meyer, The Denver Post Apr 3, 2020, 2:23 pm