GameStop Hit With New Layoffs

gamerant.com:

It hasn’t really been a secret in the industry that video game retailer GameStop has been having a rough time for the past several years. It wouldn’t be an exaggeration to say that many people wonder how the former pillar of video game sales is even still around at all. Despite the ups and downs, a majority of gamers would feel a loss if the retailer actually did go under, for nostalgia perhaps, but also because it’s always difficult to learn that a wave of layoffs has happened at GameStop or any other company.

GameStop has had a number of hiccups that have kept the company from making a resurgence as a successful online retailer, which it needs to do in order to stay relevant in a modern world where fewer people shop at brick-and-mortars. When he left the company’s board of directors, former Nintendo President Regis Fils-Aime stated that GameStop’s lack of a focused strategy was part of the reason. And perhaps that absence of a specific game plan partially explains why GameStop lost over $100 million in three months at the end of 2021.

GameStop Lost Over $100 Million This Past Quarter

Now, more bad news has been shared about the gaming retailer, this time in the form of more layoffs that will impact employees across GameStop and Game Informer, the monthly gaming magazine that has been run by the company since 2000. As of the time of writing, it is not yet clear how many positions have been cut, but it sounds like the number is rather large. According to CEO Matt Furlong, the goal of this workforce reduction is to “sustain profitability,” and the company plans to invest more in its store leaders and employees, though it's not certain what that means. Paradoxically, in the aftermath of the layoff announcement, GameStop’s