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QVC is shutting down an iconic studio in Florida.
The once-dominant shopping giant that influenced shopping patterns in millions of American homes with TV informercials announced it is shuttering a massive studio.
The decision comes after the company lost over a billion dollars last year.
The station's parent company, QVC Group, which also owns the Home Shopping Network (HSN), said it is closing down HSN's 107,000-square-foot Florida campus.
At its peak, the building used to headquarter 2,500 employees. Executives said the building will shutter in a few months.
Around 900 people are also expected to receive pink slips by the end of the year.
The CEO: I wonder how much money he stole.