Qurate Retail Group laid off 400 employees last week.
The cuts were mostly focused on the media conglomerate's QVC and HSN brands.
Qurate Retail Group said last week that it laid off 400 staff members, representing about 12% of its workforce.
- Qurate Executive Chairman Greg Maffei called 2022 a "horrible year" but said the company had bought time for a "turnaround story."
- Most of the layoffs targeted people who held roles with the television shopping channel QVC U.S. and cable television brand HSN.
- Qurate said it has been facing operational and business challenges since December 2021, when a fire destroyed 75% of its second-largest fulfillment center in North Carolina.
- The company reported last week that its Q4 revenue had fallen by 13% to $3.5B, while its e-commerce revenue dropped by 14% to $2.3B.
