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GameStop CFO Resigns and Company Faces Multi-Department Layoffs

GameStop CFO Resigns and Company Faces Multi-Department Layoffs
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GameStop CFO Resigns and Company Faces Multi-Department Layoffs

Layoffs are never good.

Today, GameStop Chief Executive Officer Matt Furlong sent a memo out to all employees, as obtained by CNBC. In this memo, Furlong announced the current Chief Financial Officer, Mike Recupero, will be departing GameStop. His replacement will be the Chief Accounting Officer, Diana Jajeh. The last three years have seen three separate people taking on the CFO position.

The memo does heavily corporate speak the layoffs, with Matt Furlong writing:

After making more than 600 corporate hires in 2021 and the first half of 2022, we have a stronger understanding of our transformation needs. This has positioned us to right-size headcount across several corporate departments. Today, we’re making a number of reductions to help us keep things simple and operate nimbly with the right talent in place.

As of right now the exact “number of reductions” is unknown, but they are definitely hitting company-wide. It seems that Game Informer might also be seeing some “number of reductions” as well as they have been owned by GameStop for the past 22 years.

It is currently uncertain what kind of shape GameStop will take over the coming months and years, but it’s highly likely this won’t be the last restructuring the video game retailer will be going through. Be sure to keep an eye on us here at Twinfinite as this story continues to unfold.

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