GameStop CEO Matt Furlong has sent an internal memo to employees detailing many changes as the company strives for profitability. Layoffs have been announced, including its CFO and Game Informer employees. GameStop is now focusing on its cryptocurrency division and investing in store leaders and field employees. One location recently saw a group of employees quitting due to being overworked and lack of respect from management, a signal to higher-ups that improvements are necessary. Mike Recupero will be replaced as CFO by chief accounting officer Diana Jajeh.
First line of email to team highlights evolving commerce business, launching blockchain group.— Stephen Totilo (@stephentotilo) July 7, 2022
Company contextualizes cuts, says it made 600 corp hires since last year.
Says it will invest in store leaders, field employees
CFO Mike Recupero out, replaced by CAO Diana Jajeh
“Everyone in the organization must become even more hands-on and embrace a heightened level of accountability for results,” Furlong wrote in the memo.