After Mass Layoffs and a New Equity Partner, Jewelry Television Sees a Better Future

The economic downturn forced a re-structuring that shrunk Jewelry Television’s workforce from 2,200 to 1,200 and the shelving of plans for a $20 million headquarters expansion in West Knoxville, TN.  Today, after the investment by erstwhile competitor Gems TV USA, Jewelry Television is optimistic about the future — although proceeding cautiously.  Here is how CEO Tim Matthews describes the measured approach, which is intended to lead to an initial public offering in 18 months, “”We’re operating the company a lot more conservatively and cautiously. I think the recession has taught us it’s important to do that and it’s prudent to that … We plan to continue our investments in people and organization and making our organization successful by doing a better job.”  Knoxville News Sentinel Jul. 10, 2010