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GameStop has laid off over a hundred employees today. These layoffs have hit its main corporate HQ in Grapevine, Texas along with some of company's subsidiaries. One such subsidiary that was hit hard was Game Informer. Nearly half of the Game Informer staff was laid off today.
This latest round of layoffs actually happened just a few weeks after the company laid off over 50 employees, mainly regional managers. GameStop has been on the brink of death for the past couple of years now. Just in the past year, the company tried to sell itself off but were unsuccessful. The company's stock has also been on a downward trend since late 2015, losing roughly 93% of its value since November 2015.
Word about the layoffs at Game Informer came from a number of Twitter posts by those who worked for the company, including at least one who was on vacation at the time. Game Informer had 19 employees prior to today's layoffs.
Game Informer's editor-in-chief Andy McNamara made a brief statement about today's layoffs.
A spokesperson for GameStop also issued a brief statement about these layoffs.
"As part of the previously announced GameStop Reboot initiative to transform our business for the future and improve our financial performance, we can confirm a workforce reduction was implemented impacting more than 120 corporate staff positions, representing approximately 14% of our total associate base at our company headquarters as well as at some other offices.
"While these changes are difficult, they were necessary to reduce costs and better align the organization with our efforts to optimize the business to meet our future objectives and success factors. We recognize that this is a difficult day for our company and particularly for those associates impacted. We appreciate their dedication and service to GameStop and are committed to supporting them during this time of transition."
"While these changes are difficult, they were necessary to reduce costs and better align the organization with our efforts to optimize the business to meet our future objectives and success factors. We recognize that this is a difficult day for our company and particularly for those associates impacted. We appreciate their dedication and service to GameStop and are committed to supporting them during this time of transition."
