In an aim to reduce costs.

Reports have emerged that GameStop is replacing its Chief Financial Officer and will begin laying off “a number” of staff.

In a memo acquired by AxiosStephen Totilo, GameStop CEO Matt Furlong reportedly wrote that the layoffs are to allow the company to strive for “sustained profitability”. Mike Recupero, current CFO, will be replaced by Diana Jajeh, who is Chief Accounting Officer at the retailer. Recupero was originally brought into GameStop from Amazon just over a year ago.

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