Blogosphere Mostly Mellow Over Vail Pay Cuts

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Blogosphere Mostly Mellow Over Vail Pay Cuts

By Craig Altschul
March 23, 2009

Any outrage over Vail Resorts' announcement of pay cuts to seasonal and year-round employees - and that CEO Rob Katz will forgo his salary for a year and then take a substantial cut - is muted out there in the blogosphere. The IR's Jill Adler went surfing for us and discovered that while no one likes a pay cut, most liked the alternative even less. Many bloggers showed appreciation the cuts started at the top, even if they weren't worried about Katz going without supper.

Some samples from TGR bloggers, one of the first places where anger would normally rise. "...it might affect VR in the short term (one-two months mainly). It shouldn't next year," wrote Chunky Lover. His point? New seasonal "lifties" won't know the difference. Skidog said he was impressed "by the higher ups agreeing to take cuts and no salary. Glad somebody does the right thing..." HiTek79 agreed: "Yeah, they aren't 'slashing' wages. 2.5 percent decrease for most employees. The upper management are the ones taking the hit. I think it's refreshing to see this kind of thinking..."

GoEHuge wrote "I met Rob (Katz) last year and he was a really nice guy. Not taking salary for the year is an admirable thing to do when you have to start cutting your employees' wages. Although it is not like the guy is strapped for cash..." Axebiker added, "I'm a 'normal everyday employee.' I'm glad to at least have a job. 2.5 percent less of nothing is nothing..."

Smmokan wrote, "it would be news if VRI was cutting 2.5-10 percent of their workforce which, in reality, was probably their other main option. Personally, I think they did a good thing here..."

LivinCo wasn't impressed, however. "Vail was already known for paying well below market on a per position basis, so now the employees are going to be really broke. Hopefully their pow days make up for it."

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