GameStop announced in an internal letter to Watson the planned closure of all branches in early 2023. 14 stores and 83 employees were affected. They are called upon to submit proposals “on how to avoid potential redundancies or how to reduce their number and mitigate their impact”.
An employee confirms receipt of the document. Employees were informed of the closure on Thursday. In addition to the Swiss branches, 50 percent of the branches in Germany and Austria would also be closed, esports.ch writes.
GameStop has been weak for a long time. In early 2021, the video game seller hit the headlines when Reddit users made stealthy purchases that sent the stock price skyrocketing. But even this interim highlight could not save the gaming giant – more branches are closing worldwide.
Now GameStop is trying to expand its online business. But the competition is strong – Steam, EpicGames and Co. have large market shares. GameStop’s NFT platform doesn’t seem to hold up either: This summer, NFTs have seen their prices plummet. It remains to be seen whether any profit can be made from this. (cf.)
Source: Watson
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