West Chester-based QVC eliminating roughly 400 jobs
Parent company Qurate Retail Group is reporting sluggish sales and a major decline in revenue for the reason.
WEST CHESTER, Pennsylvania (WPVI) -- One of Chester County, Pennsylvania's largest employers is cutting 400 jobs.
Qurate Retail Group, the parent company of West Chester-based QVC, is reporting sluggish sales and a major decline in revenue.
"QVC is my store," said Louise Gaafar, from Norristown.
"It's pretty much my lifeline," added Beth Rorke, from Glen Mills.
Qurate Retail Group plans to eliminate roughly 400 jobs, which impacts its QVC and HSN teams.
"We are committed to supporting impacted team members through this transition with severance pay and outplacement services, including access to an alumni talent directory to support them on their career journey, as well as extended access to our Employee Assistance Program," the company said in a statement.
Dan Hughes and Carolyn Gracie, two longtime on-air hosts, posted farewell messages on their Facebook pages.
"After a tenure of 33 years it has come time for me and QVC to part ways. I say so with nothing less than gratitude to those who have supported me and worked with me over the years," said Hughes.
"You have made me feel so special and so loved and such a part of your lives! You are all so amazing," said Gracie.
While it's unknown how many of these 400 employees live in Chester County, commissioners say they are working to help with employment opportunities.
"Our employment rate is so low, so there are a lot of jobs that are available. And QVC had such talent that I'm sure anybody would love to have them as employees," said Marian Moskowitz, Chair of the Chester Board of Commissioners.
Laura Manion, who is the CEO of the Chester County Chamber of Business and Industry, hopes the company doesn't make more cuts because it's a vital part of the economy.
"The economic impact that they have, you know, in our restaurants, our businesses, our shops, it's important to support them as well through this time," said Manion.
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Read the full statement released by Qurate Retail Group below:
"Projects Athens is Qurate Retail Group's multi-year turnaround plan, designed to stabilize the core businesses and expand the company's leadership in video streaming commerce. The five-point plan includes actions intended to strengthen customer relationships, improve execution, reduce costs, optimize the brand portfolio, and grow faster in streaming. We shared an update on these efforts with our team today: After careful consideration, we have made the very difficult decision to eliminate a number of roles within our Qurate Retail Group team, impacting our QVC US and HSN teams, and our corporate shared services teams in the U.S. Today will be the last day worked for most of these team members, although a small number will transition over time. Today's impacts affect approximately 400 of our team members across these groups. These decisions are not easy but are necessary in realigning how we manage the business and heighten focus on critical priorities. We are committed to supporting impacted team members through this transition with severance pay and outplacement services, including access to an alumni talent directory to support them on their career journey, as well as extended access to our Employee Assistance Program. Impacted team members will also receive continued benefits coverage at the team member rate through COBRA for an extended period. Our immediate focus is supporting those directly affected by these changes. Tomorrow, March 1st, we will release our fourth quarter and year end 2022 earnings, where we will recap our performance for the year and provide additional context on today's actions."
