QVC is shutting down an iconic studio in Florida.
The once-dominant shopping giant that influenced shopping patterns in millions of American homes with TV informercials announced it is shuttering a massive studio.
The decision comes after the company lost over a billion dollars last year.
The station’s parent company, QVC Group, which also owns the Home Shopping Network (HSN), said it is closing down HSN’s 107,000-square-foot Florida campus.
At its peak, the building used to headquarter 2,500 employees. Executives said the building will shutter in a few months.
Around 900 people are also expected to receive pink slips by the end of the year.
Its part of a cost-cutting plan that will bring both HSN and QVC into the same West Chester, Pennsylvania studios.
The layoffs and building closure are also part of a modernization strategy that will completely upend the business model: QVC wants to become part of your doomscroll.
QVC still remains one of the most-watched television networks
Executives have said they’re going to focus on building a larger social media presence to tap into record-setting online spending in the US.
The announcement is a massive change for a cultural and television behemoth.
QVC and HSN, which both raised to prominence hocking jewelry, kitchenware, and home goods through television networks, have been losing cash.
The company reported an operating loss of $1.3 billion during its most recent earnings call.
‘QVC Group today reorganized teams across our company as part of our strategy to grow by becoming a live social shopping company,’ the company said on March 27.
‘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.’
The layoffs will happen in three rounds.
Around 150 staffers were cut before the March 27 announcement. The other 750 employees will be part of the other two rounds this year.
QVC has completely revamped its image to bring in younger shoppers
David Rawlinson II has been QVC’s CEO since 2021
The company lost over $1 billion in 2024 as shoppers turned away from television programs
The cuts represent about 5 percent of the company’s workforce. QVC Group reported 17,000 employees on its payroll.
The company declined to comment on this article.
Retailers digital changes
QVC Group’s decision to turn to social media comes as dozens of retailers are reorganizing their online marketing campaigns.
GameStop, a video game retailer that used to have thousands of international locations, is adjusting its business model and purchasing cryptocurrencies.
The company has been toying with swapping out its nostalgic video game hardware-based retail stores for digital currency.
GameStop has been shutting down hundreds of its stores to modernizes its business operations, but retail experts aren’t buying the pivot.
‘The core business of GameStop is challenged,’ Neil Saunders, the managing director of retail at GlobalData, previously told DailyMail.com.
‘The writing has been on the wall for a long time and it can be seen in the poor sales numbers coming from GameStop.’
Yesterday, Amazon announced it was doubling the duration of its Prime Day sales for its tenth anniversary.
The online shopping bonanza normally lasts only two days. Executives decided to run the money-saving program for four.
Amazon shoppers will find some products with markdowns up to 40 percent off.
The company hasn’t officially announced the start day for 2025’s Prime Days.
But the programs typically run in July and October.
