GameStop reportedly affected by series of layoffs
Retailer allegedly cited competition from e-commerce firms and low consumer spending as reason for redundancies
GameStop has reportedly made another round of layoffs, with an unspecified number of jobs lost following lower fourth quarter revenue and low consumer spending.
According to Retuers, "rising competition from e-commerce firms" was also a factor in the decision.
The outlet reported that as of February 3, GameStop employed approximately 8,000 full-time and 18,000 part-time workers.
GamesIndustry.biz has reached out to GameStop for further clarification.
GameStop previously laid off at least six employees from its engineering and e-commerce departments in December 2022.
This latest round of layoffs came as the company published its fourth quarter results, which saw revenue drop to $1.8 billion in 2023 compared to $2.2 billion for the same period the previous year.
As part of cost-cutting measures, GameStop previously ceased operations in Ireland, Switzerland, and Australia.
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