Two years after Reddit brought GameStop’s stock to national attention (and record highs), GameStop is again sparking discussion across the internet.
In a viral video with over 6.3 million views as of Saturday, TikTok user Red (@redsonjattv) shares what she says it’s like to be a manager at a physical GameStop location. The outlook is not great.
“Everything’s on clearance,” she writes in the text overlaying the video. “No one comes in anymore and the corporate layoffs have started.”
@redsonjattv Other #gamestopemployees, its been a privilege. I guess im going down with the ship #retailproblems #gamestop #titanic #lesbiansoftiktok #gamer ♬ Nearer My God to Thee – I Salonisti
The pivot away from retail shouldn’t surprise anyone that’s been following GameStop. In the company’s 2021 annual report, the company claimed they were “focused on transforming into a customer-obsessed technology company to delight gamers,” which included strengthening its e-commerce presence.
In the time since, there have been major shakeups at the company including a series of layoffs, as mentioned in Red’s video. The company also appears to have recently closed a Kentucky-based distribution center.
According to RetailDive, these moves were likely made as a result of the company’s recent focus on profitability.
“Looking ahead, we have two overarching priorities: achieving profitability in the near term and driving pragmatic growth over the long term,” CEO Matt Furlong said on a call with investors, per RetailDive. “[W]e are going to be very judicious with respect to how we allocate capital to the core business.”
On TikTok, Red’s video inspired users to share their thoughts about the halcyon days of GameStop.
“This hurts my soul,” a user wrote. “I worked at a GS as a manager for 7+ yrs back in the day and it used to be the place to be.”
“As a former Blockbuster manager, I salute thee,” another added.
Some gave reasons as to why they thought the store was apparently underperforming.
“They are unfortunately too expensive when you can buy the games cheaper on Amazon,” noted a commenter.
“Just kinda wish it was less of a merch store and more of a GAME store,” a second explained. “Used to walk in and grab one new game and like 5 used games.”
“Karma, my brother wanted to sell his DS with 12 games and offered him $30 bucks and he said ‘hell no’ and then they want to sell a used game for $20,” a third recalled.
We’ve reached out to GameStop and Red via email.
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Source: https://www.dailydot.com/irl/gamestop-corporate-layoffs/
