{"id":126404,"date":"2022-07-08T10:45:00","date_gmt":"2022-07-08T10:45:00","guid":{"rendered":"https:\/\/www.nintendolife.com\/#article-134234"},"modified":"2022-07-08T10:45:00","modified_gmt":"2022-07-08T10:45:00","slug":"gamestop-staff-layoffs-are-announced-as-chief-financial-officer-leaves","status":"publish","type":"post","link":"https:\/\/sickgaming.net\/blog\/2022\/07\/08\/gamestop-staff-layoffs-are-announced-as-chief-financial-officer-leaves\/","title":{"rendered":"GameStop Staff Layoffs Are Announced As Chief Financial Officer Leaves"},"content":{"rendered":"<div class=\"media_block\"><a href=\"https:\/\/images.nintendolife.com\/9ca225c909a89\/large.jpg\"><img decoding=\"async\" src=\"https:\/\/images.nintendolife.com\/9ca225c909a89\/small.jpg\" class=\"media_thumbnail\"><\/a><\/div>\n<figure class=\"picture ptris\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/images.nintendolife.com\/9ca225c909a89\/gamestop-logo-1024x780.900x.jpg\" width=\"900\" height=\"506\" alt=\"Gamestop Logo 1024x780\"><figcaption class=\"caption\"><em class=\"credit\">Image: GameStop<\/em><\/figcaption><\/figure>\n<p>Reports have emerged that GameStop is replacing its Chief Financial Officer and will begin laying off &#8220;a number&#8221; of staff.<\/p>\n<p>In a memo acquired by <a class=\"external\" href=\"https:\/\/www.axios.com\/2022\/07\/07\/gamestop-layoffs-cfo\">Axios<\/a>&#8216; <a class=\"external\" href=\"https:\/\/twitter.com\/stephentotilo\/status\/1545137465748590593\">Stephen Totilo<\/a>, GameStop CEO Matt Furlong reportedly wrote that the layoffs are to allow the company to strive for &#8220;sustained profitability&#8221;. Mike Recupero, current CFO, will be replaced by Diana Jajeh, who is Chief Accounting Officer at the retailer. Recupero was originally brought into GameStop from Amazon just over a year ago.<\/p>\n<p>The reported layoffs are expected to hit not just the retailer, but also video game news outlet <a class=\"external\" href=\"https:\/\/www.gameinformer.com\/\">Game Informer<\/a> which is owned by the company. The exact number is not known yet, but the memo states that &#8220;a number of reductions&#8221; will take place. Game Informer staff members have been posting their disappointment online.<\/p>\n<aside class=\"object object-tweet\">\n<blockquote class=\"twitter-tweet\"><p><span lang=\"zxx\" dir=\"ltr\"><a href=\"https:\/\/t.co\/lTL4WdtVDk\">pic.twitter.com\/lTL4WdtVDk<\/a><\/span>\u2014 John Carson (@John_Carson) <a href=\"https:\/\/twitter.com\/John_Carson\/status\/1545154269862678529?ref_src=twsrc%5Etfw\">July 7, 2022<\/a><\/p><\/blockquote>\n<\/aside>\n<p>GameStop has been struggling for years, with the pandemic only compounding the difficulties the retailer was facing. Totilo reports that Furlong&#8217;s plan is to shift to what he calls an &#8220;intense owner&#8217;s mentality&#8221;. In 2021 and the second half of 2022, the company hired more than 600 staff, but the company has more recently shown interest in the <a href=\"https:\/\/www.nintendolife.com\/news\/2022\/01\/gamestop-is-betting-the-farm-on-nfts-and-investors-are-all-for-it\">NFT and blockchain market<\/a>.<\/p>\n<aside class=\"object object-tweet\">\n<blockquote class=\"twitter-tweet\"><p><span lang=\"en\" dir=\"ltr\">First line of email to team highlights evolving commerce business, launching blockchain group.<\/p>\n<p>Company contextualizes cuts, says it made 600 corp hires since last year. <\/p>\n<p>Says it will invest in store leaders, field employees<\/p>\n<p>CFO Mike Recupero out, replaced by CAO Diana Jajeh<\/p>\n<p><\/span>\u2014 Stephen Totilo (@stephentotilo) <a href=\"https:\/\/twitter.com\/stephentotilo\/status\/1545140438092451842?ref_src=twsrc%5Etfw\">July 7, 2022<\/a><\/p><\/blockquote>\n<\/aside>\n<p>2021 also saw GameStop at the centre of a stock market surge <a href=\"https:\/\/www.nintendolife.com\/news\/2021\/01\/what_exactly_is_going_on_with_gamestops_stock_prices\">thanks to a group of Redditors<\/a> and more recently, former president of Nintendo of America Reggie Fils-Aim\u00e9 \u2014 who served on the Board of Directors for GameStop between 2020 and 2021 \u2014 <a href=\"https:\/\/www.nintendolife.com\/news\/2022\/03\/reggie-fils-aime-criticises-gamestop-managements-lack-of-articulated-strategy\">criticised the retailer<\/a> for a lack of an &#8220;articulated strategy&#8221;.<\/p>\n<p>Furlong states in the memo that &#8220;Everyone in the organization must become even more hands-on and embrace a heightened level of accountability for results&#8221;. He wants to make more investments in store leaders and employees in the retail area.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Image: GameStop Reports have emerged that GameStop is replacing its Chief Financial Officer and will begin laying off &#8220;a number&#8221; of staff. In a memo acquired by Axios&#8216; Stephen Totilo, GameStop CEO Matt Furlong reportedly wrote that the layoffs are to allow the company to strive for &#8220;sustained profitability&#8221;. Mike Recupero, current CFO, will be [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[],"class_list":["post-126404","post","type-post","status-publish","format-standard","hentry","category-nintendo-news"],"_links":{"self":[{"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/posts\/126404","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/comments?post=126404"}],"version-history":[{"count":0,"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/posts\/126404\/revisions"}],"wp:attachment":[{"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/media?parent=126404"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/categories?post=126404"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/tags?post=126404"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}