Online retailer Zulily lays off corporate workers as parent Qurate aims to cut expenses – GeekWire


Zulily’s HQ in Seattle. (GeekWire File Picture / Taylor Soper)

On-line retailer Zulily laid off company workers final week as its mother or father firm appears to be like to chop prices amid broader trade considerations associated to e-commerce progress.

Fewer than 100 positions had been impacted, or lower than 10% of the corporate’s company workforce. A spokesperson for Qurate Retail Group, which acquired Seattle-based Zulily in 2015, confirmed the cuts however didn’t present particular numbers on jobs affected.

“Final week, we introduced to our staff members some onerous decisions we have now made for our group to convey our working bills consistent with our income and place our enterprise for future progress,” the spokesperson stated in an announcement.

Zulily employs greater than 900 folks in Seattle, in response to LinkedIn.

Zulily’s income decreased 38% within the first quarter to $232 million, Qurate reported earlier this month. Working losses grew to $38 million, from $18 million within the year-ago quarter.

“Zulily income decreased primarily reflecting product shortage largely pushed by provide chain constraints and advertising inefficiencies because of value inflation and privateness modifications on sure social media platforms, which brought on Zulily to scale back advertising spend, affecting its buyer acquisition and retention,” Qurate stated in its earnings report.

Zulily additionally took a $2 million restructuring cost within the quarter largely associated to its “regional workplace house technique” and closure of a Pennsylvania facility later this yr, which is able to lead to 504 job cuts.

The corporate additionally took a $396 million working loss in This autumn because of a $363 million “non-cash impairment cost associated to its tradename and goodwill.” We’ve adopted up with Zulily to get particulars on the cost.

Different e-commerce firms together with Amazon are seeing progress sluggish following two years of on-line procuring surges through the pandemic. Inflation and provide chain woes are additionally impacting on-line retailers. UPS final month projected e-commerce supply progress to chill.

Zulily in March employed former Nordstrom exec Terry Boyle as president and CEO. Boyle changed Jeff Yurcisin, the previous Amazon govt and Shopbop CEO who took over in Could 2018 for longtime CEO and co-founder Darrell Cavens.

Zulily went public in 2013 and was acquired by Qurate for $2.4 billion in August 2015.





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