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Jewelry Television Slashes Jobs Due to Economic Woes in U.S.

May 19, 2008 1:37 AM   By Avi Krawitz
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RAPAPORT... Jewelry Television announced it has eliminated more than 200 jobs in an effort to remain competitive during the economic slump in the United States.

According to the Knoxville News Sentinel, the home shopping network eliminated 150 positions ranging from supervisors to vice presidents, while another 65 employees from its Shop at Home facility in Nashville were notified two weeks ago their positions were also being phased out. The company employed around 2,100 people in the United States before the cuts.

"The economy is not within our control; however, we have a responsibility to implement a strategic plan that adequately addresses an increasingly competitive environment,” said Tim Matthews, CEO and president of Jewelry Television. “Our primary objective is to provide stability to the remaining majority of our employee base and continue delivering great jewelry and gemstones at value prices to millions of Americans."

Jewelry Television also plans to put the Shop At Home facility and equipment it acquired in 2006 for $17 million in Nashville on the market, The Sentinel reported.
Tags: Economy, Jewelry, United States
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