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Business & Lifestyle

GameStop fires CFO, announces layoffs

GRAPEVINE, Tex. (UPI) -- Video game retailer GameStop fired its chief financial officer and announced a series of layoffs on Thursday. The company publicly announced that it had terminated the employment of CFO Michael Recupero, with Chief Accounting Officer Diana Saadeh-Jajeh stepping into the role. Saadeh-Jajeh, who served as interim CFO last year, will earn a starting annual salary of $200,000. In addition, she will be eligible for a "transformation bonus" in an aggregate amount of $1,965,000. This is according to […]

todayJuly 9, 2022 12

Business & Lifestyle

GameStop closed on Thanksgiving, Black Friday deals offered early

GRAPEVINE, Tex. -- If you were planning to huddle outside of your nearest GameStop store, save yourself the trip this year. This is assuming your closest store hasn't already closed or gone out of business due to the company's ongoing restructuring plan. GameStop is following the lead of other major retailers by being closed on Thanksgiving Day. Walmart and Target made similar announcements earlier this year. Normally, the video game retail giant has been opening up to Black Friday shoppers […]

todayOctober 27, 2020 3

Business & Lifestyle

GameStop reveals plans to close 450 stores

GRAVEVINE, Tex. -- GameStop reveals in a recent investor call that they will be closing more stores than in their initial plan. Company executives did reveal that they will close an additional 100 stores than in their current restructuring plan. Per the restructuring plan, the company had plans to close 300 underperforming stores permanently. However, this number is increasing since the investor brief in March. Store closures to continue through 2021 When asked regarding a timeframe for these additional store […]

todaySeptember 13, 2020 13

Business & Lifestyle

Over 100 GameStop employees laid off, including Game Informer editorial staff

GRAPEVINE, Tex. (Heartland Newsfeed) -- In a press release Tuesday, GameStop announced the layoff of over a hundred employees as part of an ongoing company initiative. The job cuts, as part of the company's Reboot initiative to reform the company for future longevity and allowed for financial performance improvements, involved multiple divisions within the company from the corporate headquarters in Grapevine, Tex. to Game Informer magazine staffers. A statement to gaming website GameSpot stated that more than 120 staff positions […]

todayAugust 20, 2019 12

Business & Lifestyle

Store closures rocked retail in 2017, with 2018 bound to be no different

NEW YORK (Heartland Newsfeed/CNBC) -- A larger-than-average slew of retail bankruptcies and stores being shuttered rocked the industry this year, making headlines and dragging even some of the better-performing companies such as Home Depot, TJ Maxx and Costco down with the dismal news. So far in 2017, 6,985 store closure announcements have been made, according to a tracker from FGRT (formerly Fung Global Retail & Technology). That's up more than 200 percent from a year ago, based on the firm's […]

todayDecember 27, 2017 123

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