Tuesday's news for Blockbuster employees looks grim, because as many as 3,000 employees of the entertainment company will be handed their walking papers this year based upon the latest from the Christian Science Monitor.
Underperforming stores are going to be the ones closed based upon interviews given from management, as well as those stores that have leases about to expire. But transparency is missing, as the names of those stores aren't being disclosed in advance.
The Denver Post reported that the 3,000 employees slated to be "laid off" already know who they are according to John Hall of Dish Network Corp, the parent company of Blockbuster. And that's a good thing, as who wants to be told at the last minute that their job is gone? They should be the first to know before the public. But what's this about "lay offs?" It isn't like those employees can easily up and move to other cities and states for a job with the same company. And if the stores are closing then how can they ever be brought back to work?
And that's the second weird part of this news in addition to the company refusing to list the stores it plans to close. Now it is refusing to call a job termination a job termination.
At the heart of the employee terminations (lay offs) and store closings appear to be a $2.5 million job growth incentive tax credit, which was awarded in 2012 by the Colorado Economic Development Commission. It appears that Colorado wants the jobs the movie entertainment company can bring by moving its headquarters from Texas to Douglas County apparently. And that makes it a little easier to guess where those 3,000 employees are that will be losing their jobs now, eh?
Photo credit: Reuters/Paul Hackett/CSmonitor.com