March 3, 2009

HSN posts loss, cuts 250 jobs

According to Reuters: “Home Shopping Network operator HSN Inc (HSNI.O) cut about 250 jobs during the fourth quarter, and canceled merit increases for 2009 to contain costs.

HSNi, which had about 5,500 full-time employees as of December 31, 2007, also reported a loss of $2.15 billion, or $38.29 a share, versus a profit of $56.5 million, or $1 a share, in the year-ago quarter.”

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