QVC has laid off 900 employees in the US as part of a restructuring effort to drive company growth.
The company stated in a press release: “As a result of this reorganization, we made the very difficult decision to eliminate a number of roles. In the US, this impacts approximately 900 team members across HSN, QVC US, and our Global Shared Services.
“For many of these individuals, today will be their last day with QVC Group. Some will continue working with us for several months, mainly to support the transition of the HSN broadcast and the St. Petersburg campus.”
In addition to the layoffs, the company plans to improve its revenue by driving live shopping content and leveraging technology to expand to broader audiences.
The company has also made fresh C-suite appointments as part of its operational shake-up, tapping media veteran Alex Wellen as the new chief growth officer.
David Rawlinson, president and CEO at QVC Group, commented: “Alex is a pivotal hire in our strategy to return to top-line growth by becoming a live social shopping company.
“Alex brings an impressive blend of media and digital product expertise to our top leadership team.”
Additionally, the company plans to streamline its operations and optimize results by consolidating its QVC US and HSN operations.
In its most recent earnings, QVC saw its revenue fall by 6% to $2.9 billion, and its operating loss totaled $1.3 billion compared to $103 million in the year prior.
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