Blockbuster Cost-Cutting Hits Spain Hard
ThinkSpain is reporting that Blockbuster "will be closing all of its 94 stores in Spain, resulting in the loss of 688 jobs."
According to a spokesman for the UGT trade union, the decision has been made for economic reasons in the face of competition from pirateers, digital TV providers, and changes in the way prefer to spend their free time, all of which has made the business unprofitable.An agreement has been struck whereby workers will be compensated with between 24 to 35 days for each year of service.
It should be noted that outside of the US, each countries operations are independant from the Blockbuster corporation that we all know. They're basically franchise stores in the US, except they're in another country.
Posted by: Harrie | March 19, 2006 at 12:09 PM