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St. Pete-Based HSN Announces Layoff Of 110 Workers

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By RICHARD MULLINS | The Tampa Tribune

Published: December 5, 2008

Hit with an awful consumer spending market, home shopping channel HSN is paring back operations.

The St. Petersburg-based company will lay off 110 employees at HSN and eliminate 52 open positions, most from the St. Petersburg area, about 3 percent of total employment. It will also eliminate 75 positions at its catalog division, Cornerstone, which publishes catalogs such as Territory Ahead and Frontgate – about 3 percent of its employment.

Employment in the local area stands at 2,625.

Company officials said they've made good progress improving the HSN brand, expanding its customer base and improving the quality of products and service. But with tough economic times, HSN is needs to "position ourselves to drive the greatest value for our customers and shareholders."

Spokeswoman Nancy Bushkin said, "This decision was not made lightly but is necessary to remain competitive in the current environment."

Stock in HSN has fallen about 87 percent since Aug. 21, when it officially spun off from former parent company IAC/InterActiveCorp., part of media mogul Barry's Diller's disassembly of that company.

Rival home shopping channel QVC isn't spared pain in the downturn, either. It will cut 900 positions over the next year to reduce costs, most from its West Chester, Pa., headquarters area.

Reporter Richard Mullins can be reached at (813) 259-7919.

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