Make us your home page

HSN Inc. cuts 185 catalog, TV jobs

ST. PETERSBURG — It's a week HSN Inc. hopes to forget.

On Wednesday, the TV and catalog retailer was "No. 1" on the Nasdaq market — unfortunately, as the day's biggest percentage stock decliner. Friday, the company said it was eliminating 185 jobs and not filling an additional 52 open positions.

"In today's challenging economic environment, we have to position ourselves to drive the greatest value for our customers and shareholders," HSN spokeswoman Nancy L. Bushkin said. "As a result, we must streamline our operations and have eliminated a number of positions."

HSN Inc., which includes the HSN TV shopping business and the Cornerstone catalog operation, said about 110 HSN jobs were cut, less than 3 percent of the HSN unit's work force. Most of those jobs are in St. Petersburg. An additional 75 positions at HSN Inc.'s Cornerstone catalog were cut. None are local jobs, and they also make up less than 3 percent of Cornerstone's employees.

Both the HSN and Cornerstone cuts are immediate.

Bushkin said the company also has eliminated 52 open positions. "This decision was not made lightly but is necessary to remain competitive in the current environment," she said.

HSN and Cornerstone were part of CEO Barry Diller's IAC conglomerate. They were spun off as HSN Inc. in August and started trading at $10 before the shares briefly hit $16. Like most stocks since then, HSN's has been battered. It closed Friday at a record low $1.82.

HSN Inc. cuts 185 catalog, TV jobs 12/05/08 [Last modified: Friday, December 12, 2008 2:15pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times


Join the discussion: Click to view comments, add yours

  1. SeaWorld cuts 350 jobs across company, including in Orlando


    ORLANDO — SeaWorld, which has struggled with declining attendance, announced Wednesday it is cutting 350 positions.

    Kalia, a 12-year-old orca whale, during rehearsals for the upcoming Orca Encounter at SeaWorld San Diego, on May 18, 2017. [Howard Lipin | San Diego Union-Tribune/TNS]
  2. As Clearwater Marine Aquarium expands, it asks the city for help


    CLEARWATER — When Clearwater Marine Aquarium CEO David Yates saw an architect's initial design for the facility's massive expansion project, he told them to start all over.

    Clearwater Marine Aquarium Veterinarian Shelly Marquardt (left), Brian Eversole, Senior Sea Turtle and Aquatic Biologist (middle) and Devon Francke, Supervisor of Sea Turtle Rehab, are about to give a rescued juvenile green sea turtle, suffering from a lot of the Fibropapillomatosis tumors, fluids at the Clearwater Marine Aquarium Wednesday afternoon. Eventually when the turtle is healthy enough the tumors will be removed with a laser and after it is rehabilitated it will be released back into the wild.  -  The Clearwater Marine Aquarium is launching a $66 million renovation to expand its facilities to take in injured animals and space to host visitors. The aquarium is asking the city for a $5 million grant Thursday to help in the project. American attitudes toward captive animals are changing. Sea World is slipping after scrutiny on the ethics of captive marine life. But CEO David Yates says CMA is different, continuing its mission of rehab and release, it's goal is to promote education, not exploitation. JIM DAMASKE   |   Times

  3. One of the best places for investing in a rental house is in Tampa Bay

    Real Estate

    Two Tampa Bay ZIP Codes are drawing national attention.

    . If you're looking to invest in a house to rent out, few places are better than  ZIP Code 34607 in Hernando County's Spring Hill area, according to ATTOM Data Solutions.
 file photo]

  4. Tampa Chamber of Commerce announces small business winners


    TAMPA — The Greater Tampa Chamber of Commerce selected the winners of the 2017 Small Business of the Year Awards at a ceremony Wednesday night at the David A. Straz, Jr. Center for the Performing Arts. More than 600 attendees celebrated the accomplishments of Tampa Bay's small business community.

    Vincent Cassidy, president and CEO of Majesty Title Services, was named Outstanding Small Business Leader of the Year by the Greater Tampa Chamber of Commerce.

  5. International array of artists chosen as finalists for pier project

    Local Government

    ST. PETERSBURG — A diverse group of six artists will compete for a chance to install their work at the city's multimillion-dollar Pier District, expected to open in early 2019.