Blockbuster To Cut Up To 300 Jobs

    March 31, 2005

Blockbuster is going to lay off up to 20% of the staff at its headquarters in the Dallas area.

The company will terminate 200 to 300 jobs by the end of April.

According to an Associated Press article,

“The cuts are designed to help offset an incremental $70 million that the company said it would spend this year on Blockbuster Online.

Blockbuster earlier said it would have to cut costs and reduce its corporate staff to help build its growing online DVD rental business.

Raskopf said as many as 30 percent of the staff cuts may come from positions budgeted for this year but as yet unfilled.”

Blockbuster has now given up on trying to acquire Hollywood Entertainment which it has been in a bidding war with Movie Gallery for.

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