As part of a broader turnaround plan, Qurate, the parent company of West Chester-based QVC and several other properties, has laid off around 400 employees, writes Jeff Blumenthal for the Philadelphia Business Journal. 

The cuts affected QVC and HSN employees, as well as the company’s corporate shared services teams in the U.S. Tuesday was the last day for many of the impacted employees. 

“These decisions are not easy but are necessary in realigning how we manage the business and heighten focus on critical priorities,” said Qurate. 

News of layoffs helped push the company’s shares up by nine percent to $2.30 in after-hours trading Tuesday. 

Qurate provided laid off employees with severance pay, extended COBRA benefits, and outplacement services. Extended access to its employee assistance program is also included in the company’s severance package. 

Qurate had close to 27,000 full- and part-time employees at the end of 2021, according to the company’s annual report. According to Pennsylvania’s labor department, QVC is the second-largest employer in Chester County. 

The cuts are part of Project Athens, a multiyear turnaround plan that aims to stabilize Qurate’s core businesses and expand its leadership in video streaming commerce. 

Read more about Qurate in the Philadelphia Business Journal. 

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