Laying off corporate staff

A series of layoffs might have helped cut costs for the company. In December, GameStop’s CEO Matt Furlong stated in a memo that the company had determined the “right level of corporate staff” needed in order to reach its profitability and growth goals.


Net sales is still lower than a year ago, at $2.22 billion in Q4 2022, compared to $2.25 billion in Q4 2021.

Going into 2023, Furlong said on an investor call that the company will make further cuts, particularly in its European markets, where it has already been reducing its number of retail stores. The company will also consider higher margin categories like toys as a way to boost business.


GameStop has a backlog of inventory as a result of supply chain delays during the Covid-19 pandemic. Its Q4 report shows it maintains $682.9 million in inventory, down from $915 million a year ago.

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