GameStop Corp (NYSE:GME) has launched a marketplace for nonfungible tokens...

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GameStop Corp (NYSE:GME) has launched a marketplace for nonfungible tokens...


 GameStop Corp (NYSE:GME) has launched a marketplace for nonfungible tokens...



GameStop Corp (NYSE:GME) has fired chief financial officer Mike Recupero, and is cutting staff across departments as part of an aggressive turnaround plan at the US videogame retailer.


The retailer said it terminated Recupero's employment with immediate effect in a regulatory statement on Thursday.


Recupero, who joined the company about a year ago, was fired because "he was not the right culture fit" and was "too hands off," with GameStop chair Ryan Cohen said to be responsible for the exit, CNBC reported.


Chief accounting officer Diana Saadeh-Jajeh will become CFO with a starting annual salary of US$200,000, according to a SEC filing, and will be eligible for a US$1,965,000 "transformation bonus."


GameStop's layoffs are reportedly on its corporate side rather than in its stores, and are intended to "reduce bloat" as the firm invests in other areas.


With the videogame industry largely moving online, the brick-and-mortar retailer has been trying to reinvent itself and appointed e-commerce Chewy founder Cohen to lead the turnaround last year. 


Among his new hires were Recupero, formerly of Amazon and chief executive Matt Furlong.


The company appears to have hired more than 600 corporate employees since 2021.


After gaining more than 15% during the regular session, shares of the company fell more than 6% in extended trading. Shares of GameStop were trading at US$135.12 on Thursday, valuing the company at US$10.29bn.


GameStop earlier this week approved a 4-for-1 stock split, leading its shares to jump over


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