"Company contextualizes cuts, says it made 600 corp hires since last year."
They looked at the stonk money like it was the Disco Stu chart.
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Axios: GameStop CFO out, layoffs across company, including at GameStop proper and Game Informer -- "a number of reductions" as per company memo
- Thread starter IDontBeatGames
- Start date
They looked at the stonk money like it was the Disco Stu chart.
Man, I keep forgetting I have like $450 worth of GameStop credit on one of their gift cards from trading in my Xbox one X, games and controllers.
Last year when they were running that insane deal where they gave you extra for consoles, games and accessories.
I should probably use it here soon before they completely stop accepting them and if they do go out of business…
Last year when they were running that insane deal where they gave you extra for consoles, games and accessories.
I should probably use it here soon before they completely stop accepting them and if they do go out of business…
the fuck does that mean?
read: we're going to work you to the bone
"Work as fucking hard as you can like your life depended on it"
i believe it means like you "own" this service/responsibility mindset. A real go-getter.
The guy at the Gamestop near me can't even take a piss until halfway through his day because that's the only time the shifts overlap and there are actually two people in, but they hired 600 new corporate employees?
What in the hell are they even doing that necessitates that many office jobs?
Yeah I am also getting worried about that. Things are looking grim. Hope the people that were laid find something better to do.
I don't want to see them close, I want to see them evolve. Unfortunately, they never did. Archaic pricing, won't match pricing of other retailers, selling a bunch of shit no one wants, pops t-shirts.
They really should close Brick and Mortar and go online, but cleanse the store of trash. Just sell games at variable market pricing, price match competitors, offer your trade ins, like Amazon does.
I know it's re-doing their whole business but it's that or completely shut down.
It's the last standing of my childhood (Babbages, Funcoland, EB Games, etc.) for "big" brick and mortar games stores.
They really should close Brick and Mortar and go online, but cleanse the store of trash. Just sell games at variable market pricing, price match competitors, offer your trade ins, like Amazon does.
I know it's re-doing their whole business but it's that or completely shut down.
It's the last standing of my childhood (Babbages, Funcoland, EB Games, etc.) for "big" brick and mortar games stores.
Man, one part of me just want them to close already, since it's a sad spectacle for so many years already. But then, all the people working there, and also the fact that it's the only dedicated gaming store branch remaining. (At least in Québec)
But I'm part of the problem, somewhat. While I still buy mainly physical (for bigger release), I rather get games from Amazon or BestBuy...
But now is the time to use my Platinum 10% on used game before they're gone!
But I'm part of the problem, somewhat. While I still buy mainly physical (for bigger release), I rather get games from Amazon or BestBuy...
But now is the time to use my Platinum 10% on used game before they're gone!
If they just sell games and pricematch competitors on games, how are they going to make any money? Amazon has other things to pay the bills, as does Best Buy and pretty much every other company.
That really sucks for the employees.
I know Gamestop has a number of issues, but it's still one of the better/few remaining places left to get a variety of physical media games. Game Informer is usually pretty great too.
As someone who still prefers physical over digital, I'm not looking forward to them inevitably going out of business.
I know Gamestop has a number of issues, but it's still one of the better/few remaining places left to get a variety of physical media games. Game Informer is usually pretty great too.
As someone who still prefers physical over digital, I'm not looking forward to them inevitably going out of business.
Awful news for the great Game Informer crew. I don't know if any specific people have been informed of their layoff, but a few of them are not happy right now.
View: https://twitter.com/BrianPShea/status/1545140958114848769
Former members:
View: https://twitter.com/kstar1785/status/1545141625755783168
View: https://twitter.com/iv_javy/status/1545137992188190721
View: https://twitter.com/BrianPShea/status/1545140958114848769
Former members:
View: https://twitter.com/kstar1785/status/1545141625755783168
View: https://twitter.com/iv_javy/status/1545137992188190721
I don't know, I'm not in that field for a reason, I'm saying from the outside, thats what I think they need to do, leave it to market experts and business strategists to figure out how the F to make that work, but what they have going on now, is failing.
Isn't their current approach a result of focusing only on games being no longer viable? Pretty tough to be a games only retailer when the industry is actively trying to move away from retailers in favor of direct to consumer options.
Short term probably not dangerous at all. I would probably be looking to spend it within the next year or so though.
Yep we fucked up, and if you want to keep your paycheck, work harder and do other jobs as though you own the company. When we do shut down though, don't expect any special treatment, we're all a family, until we're not
I'm willing to do a beer bet that companies that are in a crunch who claim they'll invest in the blockchain or NFTs instead get on the fast track to insolvency.
They'd probably be in even more dire straits if not for the whole meme stock debacle.
"Our company is dying, better get into crypto even more"
good luck, idiots. you'll need it.
Sorry to all the GS/GI staff being fucked over by blatantly incompetent leadership. Y'all deserve better.
good luck, idiots. you'll need it.
Sorry to all the GS/GI staff being fucked over by blatantly incompetent leadership. Y'all deserve better.
I mean the meme stock stuff just delayed the inevitable fact that GameStop's underlying business is permanently hosed.
Yeah I know they're executing on a turnaround plan and they stand a better chance of making it than some other "longshot" turnaround plans.
But the business is still built on rapidly eroding sand.
Yeah I know they're executing on a turnaround plan and they stand a better chance of making it than some other "longshot" turnaround plans.
But the business is still built on rapidly eroding sand.
Ship is already half sunken, it's only a matter of time when they close down completely or scale down big. Digital being way too convenient already and pandemic was a brutal one-two to GameStop.
I hope the people that were layoff get back on their feet quickly. Leadership clearly has no idea what to do and just panders to current (and more financially riskier lol) trends.
I hope the people that were layoff get back on their feet quickly. Leadership clearly has no idea what to do and just panders to current (and more financially riskier lol) trends.
Indeed!
My stomach hurt reading that shit...
I am also sorry for the people who are laid off, ofcourse.
I took advantage of that insane trade-in deal too and I converted all my GS credit to a variety of MS/Nintendo/Sony/Steam gift cards before Christmas last year because I didn't have enough faith they'd stick around long-term after Christmas was over. Just convert the credit into a form you can use with one (or more) of the platform holders.
Man I've got like $600 in credit with them. I want to buy a PS5 with it, but I'm not sure it's a good idea to wait.
The full memo:
www.cnbc.com
GameStop fires its CFO and announces layoffs as part of aggressive turnaround plan
The company is making staff cuts across departments as part of an effort to turn around the videogame retailer and drive growth.
www.cnbc.com
"This means eliminating excess costs and operating with an intense owner's mentality Everyone in the organization must become even more hands-on and embrace a heightened level of accountability for results"
Oh fuck all the way off...
Oh fuck all the way off...
That reads to me as "do way more work for the same meager pay."
Yup. "Do more work for the same meager pay with less staff"
So hedge funders are not offer sexual favors for a lunch for a tank of gas when the squeeze happens? And it might be the diamond hand holders?!
Good thing i stick to unorthodox method of investing. Buying high then selling low
There's no saving GameStop, there never was, they've spent the lsat few years delaying the inevitable. As always it sucks for the people on staff and at GI who are losing their jobs though.