GameStop, an American video game and gaming merchandise retailer headquartered in Grapevine, laid off 120 employees Aug. 20. The decision comes as part of the GameStop Reboot initiative to improve the company’s financial performance, a statement from GameStop sent to Community Impact Newspaper said.
The layoffs totaled about 14% of the company’s associate base at its headquarters, and included employees at some other offices, the statement said.
“While these changes are difficult, they were necessary to reduce costs and better align the organization with our efforts to optimize the business to meet our future objectives and success factors,” the statement said.
An item regarding GameStop was on the Grapevine City Council meeting agenda Aug. 20 . The company had requested the council nominate GameStop to the state for an Enterprise Zone Program, designed to promote job creation and retention. But GameStop requested to withdraw the item from the Council’s consideration, so no action was taken.
GameStop officials said the layoffs had no connection to the withdrawn item.