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GameStop (GME) CFO Mike Recupero out, company announces layoffs

Chief Administrative Officer Diana Jajeh will replace Mike Recupero as the company layoffs employees across GameStop and Game Informer.
TJ Denzer
TJ Denzer
3

A major move is seemingly taking place in GameStop executive and lower staffing. Apparently, the company is going through a wave of layoffs, and it includes the removal of Chief Financial Officer (CFO) Mike Recupero. As layoffs terminate the jobs of employees at both GameStop and Game Informer, Chief Administrative Officer (CAO) Diana Jajeh will take Recupero’s place for the foreseeable future.

This news comes from an apparent internal company memo that was obtained by Axios video game journalist Stephen Totilo, as well as a filing to the US Securities and Exchange commission. According to the memo penned by CEO Matt Furlong, Mike Recupero will be stepping down as the CFO of GameStop immediately and CAO Diana Jajeh will be taking up the position. Recupero was only appointed to the CFO position in June of 2021 as the company continued to go through transformation to a more online commerce-oriented business. Alongside Recupero’s exit from the GameStop CFO position, “a number of reductions” are set to hit Game Informer and GameStop staff. According to the email, the company is shifting focus of its hirings. It suggests the company has made 600 corporate hires since last year and will instead invest in store leaders and field employees in the near future.

Axios game journalist Stephen Totilo claims to have obtained an internal company email which suggested CFO Mike Recupero was stepping down amid a wave of layoffs at GameStop and Game Informer.
Axios game journalist Stephen Totilo claims to have obtained an internal company email which suggested CFO Mike Recupero was stepping down amid a wave of layoffs at GameStop and Game Informer. [Image via Twitter]

Word of Recupero’s exit from Gamestop and layoffs to follow come at an interesting time for the company. Besides Recupero’s tenure in the CFO position not lasting long, the company has also been moving in interesting ways with its stock, announcing a four-for-one stock split earlier this week. GameStop (GME) stock saw a decent rise on July 7 going from a low of around $114.50 per share up to about $135.12 a share on the day’s close, but the stock took a beating in after hours on this news, hitting a low of just over $121 before climbing a little bit from the slump.

With supposed layoffs on the way and this executive shake-up putting Recupero out and Diana Jajeh in, it will be interesting to see what comes next for the company. Stay tuned for more GME news as we watch for further updates.

Senior News Editor
Senior News Editor

TJ Denzer is a player and writer with a passion for games that has dominated a lifetime. He found his way to the Shacknews roster in late 2019 and has worked his way to Senior News Editor since. Between news coverage, he also aides notably in livestream projects like the indie game-focused Indie-licious, the Shacknews Stimulus Games, and the Shacknews Dump. You can reach him at tj.denzer@shacknews.com and also find him on Twitter @JohnnyChugs.

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