Broomfield-based Vail Resorts announced to investors on Thursday that it would lay off 14% of its corporate workforce and under 1% of its operations workforce.

Vail Resorts, the world’s largest owner of ski resorts, is letting go 14% of its corporate employees and less than 2% of its total workforce as part of an efficiency drive after reporting a widening loss in the final months of fiscal 2024.

Vail Resorts cut 14% of its corporate staff following a $175.4 million loss in its fourth quarter, the company announced on its quarterly earnings call. The cutbacks are part of a two-year plan to help the company improve efficiency and organizational effectiveness through scaled operations,

Resort Reported EBITDA was $825.1 million for fiscal 2024, which included an $11.1 million negative impact related to Crans-Montana, including negative $7.9 million from acquisition, closing and integration expenses and negative $3.2 million from operating results in the fourth quarter. Resort Reported EBITDA was $834.8 million for fiscal 2023.

“We believe this is a natural progression and next step for our company that builds upon our success and paves the way for the next phase of growth,” said Kirsten Lynch, CEO, Vail Resorts. “Our mission, to create an Experience of a Lifetime for our employees and our guests, galvanizes our company, as does our commitment to reinvesting for growth.”

During its most recent earnings call, Park City Mountain owner Vail Resorts’ announced its cutting some jobs to create revenue.