Alterra Mountain Company, the operator of Ikon Pass, has laid off an undisclosed number of employees as it seeks to reduce costs and restructure its operations. The layoffs were first reported by the Denver Business Journal and later confirmed by the Denver Gazette. The layoffs come at a time when the company is considering moving its headquarters and is actively looking for a new CEO.
The Denver-based company confirmed that employees in Denver, at its resorts, and others among its remote workforce were affected by the cuts. The layoffs primarily impacted full-time, year-round employees in corporate services. In addition, some open positions will remain unfilled. Alterra has not disclosed how many employees were laid off.
According to an internal memo obtained by the Denver Business Journal from KSL Capital Partners, one of Alterra’s ownership groups, the layoffs were not caused by last winter’s poor snow conditions. Instead, it attributed the cuts to slower growth across the ski industry.
The goal, according to the memo, is to simplify the company’s operations, reduce costs, eliminate unnecessary layers, and allow Alterra to make decisions more quickly. The company said both its mountain destinations and corporate services remain important to its future.
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Alterra’s Headquarters Could Move
Alterra is also considering moving its headquarters from its current location at 3501 Wazee St. in Denver’s River North Art District. The company could move elsewhere in Denver or potentially to Salt Lake City, Utah.
Denver and Colorado officials are offering nearly $11 million in combined incentives in an effort to keep Alterra in the state.
The Denver Downtown Development Authority has offered up to $7 million in the form of a low-interest loan (2%) if Alterra moves its headquarters to Upper Downtown. The funding could help cover relocation, building upgrades, and office build-out costs.
The state of Colorado has also approved an incentive package worth $3.9 million, including a $1 million zero-interest loan, a $1 million grant, and approximately $1.9 million in job creation tax credits tied to as many as 106 jobs. The incentives show how important Alterra is to Colorado’s outdoor recreation economy, as the incentives were approved in an unconventional emergency meeting, according to the Denver Gazette.
Alterra Is Also Looking for a New CEO
The layoffs come as Alterra searches for a new chief executive. Former CEO Jared Smith stepped down at the end of the 2025-26 ski season. The company is currently operating without a CEO. Alterra’s board has established a temporary committee made up of representatives from KSL Capital Partners and Henry Crown & Co. to oversee the company while it searches for Smith’s replacement.
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For now, Alterra remains based in Denver, but the combination of layoffs, a CEO search, and headquarters uncertainty marks a significant period of change for the company behind one of the world’s largest ski passes. The coming months could provide a clearer picture of what Alterra’s next chapter looks like, including who will lead the company, where its corporate headquarters will ultimately land, and whether the restructuring will help position the company for renewed growth.
