QVC To Lay-Off 400 Staffers

Qurate Retail Group, the owner of QVC, HSN and several other properties, said Tuesday it was laying off roughly 400 employees as part of a broader turnaround plan, reports The Philadelphia Business Journal.

Colorado-based Qurate said the job cuts impact QVC, HSN and its corporate shared services teams in the U.S. The last day for most of the impacted employees was Tuesday, the company said in a statement on the eve of its fourth-quarter earnings report Wednesday morning.

“These decisions are not easy but are necessary in realigning how we manage the business and heighten focus on critical priorities,” Qurate said in a statement.

Shares rose 9% in after-hours trading Tuesday to $2.30.

Qurate said it is offering impacted employees severance pay, extended COBRA benefits and outplacement services — including access to an alumni talent directory — as well as extended access to its employee assistance program. It did not provide a geographic breakdown of the impacted employees.

According to its annual report at the end of 2021, Qurate had nearly 27,000 full- and part-time employees, though it said employment levels fluctuate due to seasonal factors affecting its business. Those numbers do not include independent contractors and temporary staffing agency personnel used to supplement its workforce, particularly on a seasonal basis.