BLOCKBUSTER
Mike Derer  /  AP
The nation's largest movie-rental chain will cut hundreds of jobs to help offset an incremental $70 million that the company said it would spend this year on Blockbuster Online.
updated 3/31/2005 6:57:13 PM ET 2005-03-31T23:57:13

Blockbuster Inc., nation’s largest movie-rental chain, plans to lay off up to 20 percent of its headquarters staff in Dallas and the suburb of McKinney, company officials said.

Between 200 and 300 jobs will be eliminated, including open positions that won’t be filled, company spokeswoman Karen Raskopf said Thursday. She said the reduction should conclude by the end of April.

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 last week abandoned its plans to acquire rival Hollywood Entertainment Corp. for $991 million.

© 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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