GameStop Fires CFO, Plans Layoffs

GameStop (Grapevine, Texas) has fired its Chief Financial Officer Mike Recupero and is now planning to cut employees across different departments as part of an “aggressive” restructuring plan, reports CNBC.

Diana Jajeh, GameStop’s Chief Accounting Officer, will take over as CFO. A “person familiar with the matter” reportedly told CNBC that Recupero was “pushed out” by Ryan Cohen, GameStop’s Chair.

“Change will be a constant as we evolve our commerce business and launch new products through our blockchain group. After investing heavily in personnel, technology, inventory and supply chain infrastructure over the past 18 months, our focus is on achieving sustained profitability,” a memo sent to employees and penned by CEO Matt Furlong reads. “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.

All of the layoffs GameStop is planning to make will happen on the corporate side of the company and will not affect its brick-and-mortar stores. The company has hired more than 600 corporate employees since 2021.