May 19, 2024
Finance

GameStop faces ‘unsustainable’ sales decline, cuts jobs to control costs

By Priyanka G and Harshita Mary Varghese (Reuters) -Videogame retailer GameStop said on Tuesday it had cut an unspecified number of jobs to reduce costs and reported lower fourth-quarter revenue amid rising competition from e-commerce firms and weak consumer spending in an uncertain economy. Shares of the Grapevine, Texas-based company tumbled 16% in extended trade.

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