Westgate Timeshare Company to lay off hundreds in next few days!

It has been said the Westgate company in eleven states and twenty eight resorts will lay off hundreds because of the credit crunch.

The Orlando based company is caught in the financing squeeze from the finanical meltdown and likely in for hard times now.

It was said that the ax would fall on hundreds of employee's including construction,sales,accounting,telemarking,marketing and administration countrywide.

Said that sales will be shut down for some of the twenty eight resorts in eleven states.

This probably just the start for many resorts that are building and still selling new units.

PHILL12

I think this is just the beginning of a ripple affect that will negatively impact the entire timeshare industry as a whole. American's main concerns are putting food on the table and buying gas to get to work .... anything related to travel will be put on the backburner for the vast majority of Americans .... I also see an overwhelming/staggering amount of timeshare foreclosures.

I totally agree this could become very bad for the industry. As companies try to adjust to the current market sales prices will have to adjust to the new reality. We can only hope for a shallow recession and a quick one.