Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
Vacasa, Inc. reported financial results for the fiscal quarter and full year ended December 31, 2023.
- Period
- the fiscal quarter and full year ended December 31, 2023
- Result
- reported results
Exact text from the filing
On February 28, 2024, Vacasa, Inc. (together with its subsidiaries, the “Company”) issued a shareholder letter announcing its financial results for the fiscal quarter and full year ended December 31, 2023.
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Executive change
SEC 8-K Item 5.02
confidence 0.95
John Banczak departed as Chief Operating Officer at Vacasa, Inc..
- Action
- step down
- Role
- Chief Operating Officer
Exact text from the filing
On February 23, 2024, the Company and John Banczak, the Company's Chief Operating Officer, agreed that Mr. Banczak will step down from his position as Chief Operating Officer on March 31, 2024.
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Restructurings & Charges
SEC 8-K Item 2.05/2.06
confidence 0.98
Vacasa, Inc. announced a restructuring with charges of These changes reflect continued efforts to reshape the organization by streamlining the Company's structure and reducing seniority levels across departments. Th affecting across the Company, in both its local operations teams and central teams (approximately 320 positions across the Company, in both its local operations teams and central teams, representing appro).
- Type
- restructuring
- Charge
- These changes reflect continued efforts to reshape the organization by streamlining the Company's structure and reducing seniority levels across departments. Th
- Affected area
- across the Company, in both its local operations teams and central teams
- Headcount
- approximately 320 positions across the Company, in both its local operations teams and central teams, representing appro
Exact text from the filing
On February 27, 2024, 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 2024 strategic and operating priorities and continued achievement of adjusted EBITDA profitability in 2024, against a wide range of macroeconomic outcomes. These changes reflect continued efforts to reshape the organization by streamlining the Company's structure and reducing seniority levels across departments. The Plan includes the elimination of approximately 320 positions across the Company, in both its local operations teams and central teams, representing approximately 5% of the workforce, or approximately 2% of the local operations teams and approximately 6% of the central team. The Company expects to incur $4-5 million of costs, consisting primarily of employee severance and benefit costs and professional services fees in connection with the Plan, most of which are expected to be incurred in the first and second
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