■ TIMBERS RESORTS:

The Winter Park-based chain is laying off, furloughing and cutting pay for a large amount of its workforce across the globe.

Winter Park-based Timbers Resorts is laying off, furloughing or cutting the pay of a large amount of its workforce across the globe, according to a report in GrowthSpotter.

In an email sent to employees Sunday, CEO Greg Spencer said a significant number of its total workforce will either have their hours significantly reduced, will be furloughed, or will be laid-off. Those cuts will affect one out of eight employees at the headquarters office.

Founded in 1999, the high-end hospitality developer and operator runs a number of boutique hotels, residence clubs and resort communities in markets that include Florida, Colorado, Hawaii and Tuscany.

The email says the company’s move is coming because of the impact of the coronavirus pandemic on the economy, as cities around the country curtail large public gatherings, shut down businesses, institute curfews and close schools.

“Unprecedented times call for unprecedented action,” Spencer said in the email. “Right now we owe it to our 4,000-plus owners and the roughly 1,500 people that make up our workforce to take action so Timbers can continue on and hopefully, after some healing, flourish.”

In a statement to GrowthSpotter, Timber Resorts said the company laid off eight staff members and furloughed two employees at its Winter Park headquarters. Meanwhile, a significant number of its staff, in regions where residents are required to stay home, will be furloughed.

In 2018, the company moved its headquarters to Winter Park from Aspen, Colorado, after scoring up to $560,000 in tax fund incentives — a grant made in part by a collaborative effort between the company and state and local governments, including Enterprise Florida.

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