In the latest sign of the brutal retail conditions, QVC has begun laying off workers at its West Chester, PA headquarters. The QVC layoffs will affect 900 people over the course of the next 14 months. The TV shopping channel said that 3rd quarter revenues forced the company to make drastic changes. They include…
The elimination of 160 jobs immediately
Eliminating 500 more at its distribution center in the nex year
Closing a call center in March 09′ and eliminating the 250 positions held there
Total 3rd quarter revenues for QVC were listed at $1.64 billion, with $1.07 billion being from the U.S. The company says that total revenue is down 3%.
Despite the layoffs and closings, company president and CEO Michael George says that QVC is still “highly profitable.”
The QVC layoffs are only one in the latest of what I am sure are many more to come for other retailers throughout the country. What are your thoughts on this story and current economic conditions? We’d love to hear your comments.
It makes me sad to hear of all the layoffs around the country
I have shopped at QVC since it was CVN. I find myself
being more cautious on ordering items, as I do not know what my money situation will be in the following months.
I feel especially bad for people with children and mortgages
losing their jobs. Hopefully things will brighten..and they
will be called back.