Vacasa's headquarters in Northwest Portland.

Vacasa, headquartered in Northwest Portland, laid off 1,300 people (about 240 in Portland) this week.

Vacation rental management company Vacasa laid off 1,300 employees Tuesday, a dramatic step aimed at stabilizing the faltering Portland company. The layoff includes 240 in the Portland area, which puts it among the region’s largest round of job cuts since the early days of the pandemic.

“We need to reduce our costs and continue to focus on becoming a profitable company,” new CEO Rob Greyber wrote in a note to staff Tuesday, which Vacasa then filed with federal securities regulators.

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