TV shopping/catalog merchant HSN said last Friday it will lay off 110 employees at HSN, most from around its St. Petersburg, FL headquarters. The company will also eliminate 52 open positions.
HSN is reducing headcount in its Cornerstone catalog division by 3% as well, cutting 75 jobs there. Cornerstone, based in West Chester, OH, includes the Frontgate, Ballard Designs, Garnet Hill, Smith+Noble, The Territory Ahead, TravelSmith and Improvements catalogs.
The company evidently began the cutbacks weeks ago: A long-time Cornerstone catalog staffer told Multichannel Merchant he was laid off in late October.
HSN’s former parent company IAC/InterActiveCorp. bought Cornerstone Brands in 2005. It spun off HSN as a separate company this past August. HSN’s stock has fallen more than 80% since then.