GameStop Reportedly Eyes Job Cuts as CFO Steps Down: Axios

2022.07.08 02:40

By Yasin Ebrahim

Investing.com — Gamestop slipped in afterhours trading Thursday as Mike Recupero reportedly steps down as chief executive just as the video game retailer eyes job cuts across the company, Axios reported, citing an internal memo.

GameStop (NYSE:GME) was down 7% following the report.

CAO Diana Jajeh would replace Recupero as CFO, the report said. The report didn’t quantify the extent of the layoffs, but said the cuts come in the wake of 600 corporate hires made since last year. The move comes as the video game retailer seeks to boost its commerce business and make a foray into blockchain.

Gamestop ended the day up more than 14% in regular trading after backing a 4-for-1 stock split.

Source