The GameStop chain of stores does not recover from the crisis in which it is plunged, despite the attempts of the Reddit forum members who bought shares at large in January 2021 and saved the company by increasing the value of the shares.
As reported by Axios, the company is making a significant number of layoffs, including the so far GameStop CFO Mike Recupero, who came to the company just a year ago from Amazon. He will be replaced by accounting director Diana Jajeh.
According to Yahoo Finance, 25% of jobs have been cuta percentage that could only refer to managers.
The exact number of store employees who will lose their jobs is unknown, but the layoffs have also affected the chain’s publication, Game Informer.
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The cuts come after the company made more than 600 new hires in 2021 and early 2022.
“After a huge investment in people, technology, inventory and supply chain over the last 18 months, our goal is sustained profitability, which means eliminating excess costs and operating with a strong ownership mindset.”
GameStop CEO, Matt Furlongdeclares that they must “simplify things and act quickly” with the right personnel, but adds that they are doing a significant investment in store owners and their employees.
That internal communication for GameStop employees opens with a statement of intent, mentioning that “change is a constant” when launching new products in your blockchain group.
As of January 2022 (via Nintendo Life), GameStop is creating a division to provide a marketplace to sell, buy, and trade NFTs and virtual items in games via blockchain, which is expected to launch later this year.