Advanced Search

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

May 19, 2008 1:37 AM   By Avi Krawitz
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share
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
Similar Articles
NRF NovemberStrong November Sales Kick Off Season
Dec 15, 2019
US retail sales rose in November as consumer sentiment was strong at the start of the holiday season, the
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2019 by Martin Rapaport. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are TradeMarks of Martin Rapaport.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.