Property Manager AvantStay Lays Off 22 Percent of Workforce in Second Round of Cuts

In a second round of cuts since mid-year, property manager AvantStay laid off 144 staffers, about 22 percent of its workforce, according to a published report from Short Term Rentalz.

This followed the Los Angeles-based vacation rental firm eliminating some 43 jobs around June 1.

In a letter to employees, AvantStay spun the latest round of layoffs as an issue of over-hiring and too rosy a forecast rather than slackened demand or any other underlying problems at the company.

However, at least one rival, public company Vacasa, reported softening demand for vacation rentals that began in the third quarter, which ended September 30.

AvantStay representatives didn’t respond to a Skift request for comment Wednesday.