GameStop Lays Off 120, Mostly at Its Grapevine Headquarters

This story is breaking and being updated. GameStop, struggling to keep up with a changing digital marketplace, said Tuesday it let go more than 120 corporate employees, or about 14% of its Grapevine headquarters staff."While these changes are difficult, they were necessary to reduce costs and better align the organization with our efforts to optimize this business and meet our future objectives and success factors," the company said in a statement GameStop said some staff cuts were also in other offices, but didn't say where."We recognize that this is a difficult day for our company and particularly for those associates impacted," the company said.GameStop chief executive officer George Sherman, hired in April, has been putting together a new team of top executives and in May announced a new chief financial officer, chief merchandising officer and chief customer officer.Twitter: @MariaHalkias  Continue reading...