GameStopOne of the largest video game retailers in the industry, continues to dismiss staff at both sales and executive levels.
The company fired Chief Financial Officer Mike Recupero this week and continued to fire it. Casualties allegedly include staff ranging from corporate level, data integrity, customer service to Game Informer reporters. (Game Informer is owned by GameStop.) The full range of layoffs is unknown.
According to email CEO Matt Furlong, sent on July 7, staff reductions are aimed at improving the performance of the company to achieve its new vision.
I’m here because I was told to wait a day to officially say something. Unfortunately, I’m part of the GameStop layoff and I’m not employed by Game Informer as of yesterday. I cherish the time there and even more cherish the people I work with.
— John Carson (@John_Carson) July 8, 2022
“As we evolve our commerce business and launch new products through the blockchain group, changes will continue,” CEO Matt Farlon wrote in an email sent to staff on Thursday and subsequently issued. .. Kotaku.. “After making significant investments in personnel, technology, inventory and supply chain infrastructure over the last 18 months, our focus is on achieving sustainable profitability.
“This means exclusion [sic] It operates with excessive cost and a strong owner spirit. “
As retail game sales continue to decline, GameStop has begun pivoting to blockchain and cryptocurrencies, launching its own NFT marketplace and cryptocurrencies. Earlier this year.. Teams assigned to GameStop’s crypto venture were unaffected by layoffs, According to a Reddit post From a poster claiming to be an employee of GameStop.
This move is an interesting crossroads for the company, which recently announced a stock split. In other words, increase the number of shares without devaluing them.
Former CFO Recupero will receive a $ 1,965,000 “transformation bonus” in installments next year on behalf of Chief Financial Officer Diana Saadeh-Jajeh. She will also receive $ 1 million in new shares vesting next year, in addition to her annual salary of $ 200,000. On the other hand, many store-level employees are still struggling to earn less than $ 15 an hour.
