The operator of the CairnGorm Mountain snowsports centre near Aviemore is consulting staff on potential job losses.
The ski centre and its funicular railway are owned by Highlands and Islands Enterprise. Natural Retreats began a 25-year lease for the site and its railway in June 2014.
It said the latest ski season has been “challenging” and “poor” and this had affected revenue.
The company said its winter revenue was crucial to sustaining the operation of the centre during summer.