Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
Vacasa, Inc. updated its fourth quarter 2022 guidance (reaffirmed).
- Period
- fourth quarter 2022
- Guidance
- reaffirmed
- Result
- guidance update
Exact text from the filing
On January 24, 2023, Vacasa, Inc. (the “Company”) confirmed there have been no changes to its previously issued fourth quarter 2022 Revenue and Adjusted EBITDA guidance ranges issued on November 9, 2022.
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Restructurings & Charges
SEC 8-K Item 2.05/2.06
confidence 0.9
Vacasa, Inc. announced a restructuring with charges of approximately $5 million affecting the Company (approximately 1,300 positions).
- Type
- restructuring
- Charge
- approximately $5 million
- Affected area
- the Company
- Headcount
- approximately 1,300 positions
Exact text from the filing
On January 23, 2023, the Board of Directors of the Company approved a workforce reduction plan (the “Plan”) designed to align the Company’s expected cost base with its 2023 strategic and operating priorities and achieve Adjusted EBITDA profitability in 2023, even against a wide range of macroeconomic outcomes. The Plan includes the elimination of approximately 1,300 positions across the Company, in both its local operations teams and central teams, representing approximately 17% of the workforce. The Company estimates the aggregate pre-tax costs associated with the Plan to be approximately $5 million, primarily consisting of severance payments of approximately $4 million and employee benefits and related costs of approximately $1 million.
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