GameStop has laid off employees and sacked its CFO
Since becoming a meme stock, GameStop has been on a wild ride, and the company has recently dabbled in Web3 technologies such as NFTs and crypto. It has also recently laid-off employees with little reason. On Thursday, GameStop announced an undefined number of layoffs, apparently including those from the popular publication Game Informer, and publicly confirmed in a short press release that it had sacked its CFO.
In a memo to employees, GameStop CEO Matt Furlong announced the round of layoffs. Furlong writes in the message, “we’re making a number of reductions to assist us to keep things simple and operate nimbly with the necessary talent in place.” It’s unknown how many workers are affected or which divisions are affected. According to reports, the layoffs “appear” to be concentrated at the company’s headquarters in Grapevine, Texas.
GameStop also claims to be making a “substantial investment” in its store staff, implying that it still considers its retail stores to be crucial. “These people are, in many ways, the heart of GameStop,” Furlong wrote. “We’ll be providing more information about this investment in the coming weeks.”