GameStop fires CFO, layoffs are expected for GameStop stores and Game Informer
Axios broke the disheartening news that GameStop has outed its Chief Financial Officer Mike Recupero. Recupero’s firing will be followed by a series of lay-offs within the company, which will extend to GameStop stores and Game Informer. Axios received this news from a memo sent out by GameStop CEO Matt Furlong for employees. The goal of the layoffs is so that the company can “sustain profitability,” according to Furlong.
Former CFO Recupero will be replaced by Accounting Officer Diana Jajeh, and the company’s goal is to “pursue growth in sales” and launch new products to sell. Furlong mentions in the memo that the layoffs come not long after the company had hired more than 600 employees in 2021 and 2022. Furlong also says the company will make a “significant investment” in store leaders and employees, calling them “the heart of GameStop.” Furlong writes that he’s confident that the company can move “forward” with the team at GameStop.
GameStop has owned and helped run Game Informer since 2000. Game Informer was once a magazine focus business, releasing issues on the latest gaming news and tidbits. The brand has shifted to publishing its features online, but the magazine continues to exist. Axios specifically named Game Informer as being affected by layoffs, though it is unknown who will stay with the publication and who will go. According to Furlong, employees should expect a “number of” layoffs.
It’s been no secret that GameStop has been in financial difficulties for years. Multiple GameStop stores have been forced to close all across the United States, with hundreds of employees losing their jobs. The company was able to get some reprieve in 2020 when GameStop’s stocks suddenly skyrocketed due to the influence of
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