Posted 3/27/2024, 3:00:00 PM
GameStop Announces Layoffs as Sales Decline and Analysts Predict Further Struggles
- GameStop has announced layoffs as it deals with a sharp sales decline ($1.794B in Q4 down from $2.226B last year)
- Analyst predicts GameStop's sales may fall to an "unsustainable level" without a plan to drive in-store traffic
- GameStop reducing costs by eliminating operations in some countries and reducing workforce
- Additional unspecified layoffs recently announced
- GameStop share price has tumbled from $15.18 to $13.06 on the news
