GameStop employees, unfortunately, face redundancies as the company aims to “sustain profitability.” Which is never nice to see.
GameStop has been around in the United States for years. For those in the UK, GameStop is the US equivalent of GAME retail group. Back in 2021, it was reported that GameStop had lost over $100 million in just three months. Now it seems employees are facing the brunt of that corporate loss.
Game Informer also faces staff cuts
Sadly, it seems that staff at the long-running publication, Game Informer will also be impacted. In one form or another, Game Informer, now owned by GameStop, has been around since 1991. Game Informer is considered to be one of the most respected as well as most popular video game publications within the industry.
While it’s not been confirmed how many employees will be losing their jobs at both GameStop and Game Informer, CEO Matt Furlong says that cuts are being made to “sustain profitability.” Furthermore, since the announcement of the job cuts, GameStop’s stocks are said to have dropped quite drastically.
600 staff were recently hired
What makes this situation worse is that from the end of 2021 and the beginning of 2022, GameStop hired over 600 employees. Now it seems a large portion of that employment will be out of work.
Higher up in the food chain is GameStop Chief Financial Officer, Mike Recupero who is also facing the chopping block. It is reported that Recupero is to be replaced by Accounting Officer, Diana Saadeh-Jajeh.
Staff protested poor working conditions
In recent months, GameStop has been accused of treating its retail staff poorly with claims of low pay, long hours and below-standard working conditions. This resulted in some GameStop staff staging a walkout in protest.
It’s never nice to hear of any job losses, so I hope those impacted will be able to land on their feet as soon as possible.
Featured Image Credit: GameStop/Source: Game Rant via Axios/Nasdaq
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