Following in the footsteps of QVC, HSN will lay off approximately 110 employees, eliminate 52 open positions, and eliminate 75 positions in its catalog division. Most all of these cuts will come from their headquarters in the St. Petersburg, Florida area.
Management said all the usual stuff about the tough economy (HSN stock has dropped 87% percent since August) and the tough-but-necessary decisions it requires, but it all boils down to unsuspecting and innocent workers losing their livelihoods.
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Stock for HSN has dropped 87% since August!?! Yikes!
ReplyDeleteI remember in the Barry Diller (late-80s) of QVC, when I bought their stock for $23 and sold it for $76. Thems were the good ol' days.