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GameStop Stock Slumps 9% in Morning Trading after CFO Exit, Looming Layoffs

Tiger Newspress2022-07-08

GameStop Stock Slumps 9% in Morning Trading after CFO Exit, Looming Layoffs.

According to Axios, a company memo sent to employees late on Thursday announced “a number of reductions" in staffing across the company. The most high profile among these staffing shifts is CFO Mike Recupero, who is reportedly departing and will be replaced by Chief Accounting Officer Diana Jajeh.

“Change will be a constant as we evolve our commerce business and launch new products through our blockchain group,” the memo states, according to gaming news outlet Kotaku.

Additionally, the memo hints at “eliminating excess costs” in the organization and calls for employees to “become even more hands-on and embrace a heightened level of accountability for results".

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Comment8

  • Bull1973
    ·2022-07-11
    Ok
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  • andrew123
    ·2022-07-09
    Like 
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  • SPOT_ON
    ·2022-07-09
    Avoid
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  • MIe
    ·2022-07-08
    Buy dip till split -- Leverage GameStop bad news n volatility 
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  • Daviistoh
    ·2022-07-08
    Okay 
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  • Home22
    ·2022-07-08
    🤦🏻‍♂️
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  • LukeGott
    ·2022-07-08
    🤔
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  • BotakTur
    ·2022-07-08
    Ok
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