GameStop has laid off staff working on its blockchain wallet



U.S. video game retailer GameStop has reportedly begun a round of layoffs that has heavily impacted those tasked with creating the company’s blockchain wallet.

That’s according to a report from Axios, which spoke with a source familiar with the matter and claims that at least six software engineers have been affected by the cuts.

Linkedin posts from multiple GameStop employees seem to back up those claims, with one software engineer who worked at the company explaining there is “another big around of layoffs from GameStop currently in progress […] e-commerce product and engineers—lots of them.”

Earlier this year, GameStop laid off its chief financial officer Mike Recupero and a number of additional employees in pursuit of “sustained profitability.”

Those layoffs were largely focused on the company’s offices in Grapevine, Texas, but also affected its Game Informer operations in Minneapolis, Minnesota.

GameStop has made waves for a myriad of reasons in 2022. Back in March, the company reaffirmed plans to launch its NFT marketplace and said it had been hiring “dozens of individuals” with experience in blockchain gaming, e-commerce, and technology—although it’s unclear whether those plans have shifted following the latest round of layoffs.

More recently, the retailer was hit with a class action lawsuit that accused it of recording customer support conversations without consent and selling those transcripts to a third party.

GameStop intends to report its Q3 FY22 fiscal results once the market closes on December 7, 2022, so we could hear more about the layoffs and current state of its blockchain business in the coming days

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