Tough times at QVC

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Home shopping pioneer QVC is to lay-off some 900 jobs in the US. 160 will go almost immediately, with the rest, some 6% of its workforce, going over the next 14 months.

QVC says it has been hit very hard by the downturn. The jobs are not from the broadcasting and transmission arm but from its distribution and call centres.

QVC said the job cuts will save $30m-$40m in operating costs in a full year. “I had hoped we could avoid layoffs as we pursued our long-term growth strategies, but after witnessing the continuing deterioration in the economy, I came to the reluctant conclusion that this was not going to be possible," QVC President/CEO Mike George said in a statement.

QVC is a subsidiary of John Malone’s Liberty Media Corp.



Source:RapidTVNews