AND GameStop a manager claims that a popular retail company has begun corporate layoffs. The company has seen a lot of volatility since its stock price jumped to all-time highs in 2021 with the help of Reddit users, and it looks like the changes will continue in 2023.
When GameStop when it released its 2021 annual report, it revealed that “the past year marked the beginning of a systemic transformation at GameStop” and that it is “focused on transforming into a customer-obsessed technology company.” The only problem seems to be that while GameStop is shifting its focus to the customer, customers apparently weren’t as obsessed with GameStop as they have been in recent times, which ultimately led to negative conditions for workers.
In a viral TikTok video, a GameStop manager known by the username redsonjattv shared his experience of working at the regular location. In the video, the manager says that “everything is being processed” and “no one is coming in anymore.” She also mentions this in the video GameStop has begun laying off employees. The TikTok video currently has over 6.4 million views and has inspired a dialogue about the future of GameStop and its employees.
In the comments section of redsonjattv’s video ex GameStop employees and managers shared their own stories from his experience at GameStop over the years. Some users cited high prices for used games as the reason for the company’s decline, while others were simply surprised that GameStop lasted this long. Some comments on the video compare GameStop to RadioShack and Blockbuster.
According to RetailDive, GameStop’s transition to profitability has led to some major changes at the company, which include corporate layoffs at GameStop and the company is closing its distribution center in Kentucky. GameStop also completely laid off more than 50 district managers without notice. CEO Matt Furlong said the company’s two main focus areas are short-term profits and long-term growth. The company is very judicious in making decisions in an effort to achieve longevity.
The TikToker later detailed the current state of her physical retail store in an email to the Daily Dot after posting her video. She added that by Christmas the store was empty and even on Black Friday there were almost no customers. She points to corporate decisions made over the years as the cause of GameStop’s downfall. Despite all these fears, there was no talk of closing her store. as GameStop continues to transform, it remains to be seen what the future holds for the once popular video game retailer.
Source: Daily Dot, RetailDive