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Radical layoffs have been announced for the video game magazine, whose circulation ranks 4th among US print publications. In total, the Texas-based parent company, GameStop Corp., laid off seven of the 19 IM staff members, as well as more than 120 employees in its offices. The troubled stock of video game retailers rose from more than $ 15 per share in January to $ 3.46 on Wednesday morning.
Bloodletting is "part of GameStop Reboot's previously announced initiative to transform our business for the future and improve our financial performance," a GameStop spokesperson said in a statement, noting that 14% of positions at the headquarters of the company had been removed.
Game Informer employees seemed stunned by the move.
"I was fired from Game Informer this morning, which was surprising and heartbreaking" tweeted Deputy editor Kyle Hilliard, who confirmed with City Pages that he and six of his colleagues had lost their jobs. "Writing for the magazine has allowed me to experience some of the best experiences of my life.I absolutely adore everyone I have worked with and consider them to be true friends."
The news has diverted another former editor, Jeff Marchiafava, while he was on vacation.
"I'm trying to do things right with my people" tweeted Editor-in-Chief Andy McNamara. "I love Game Informer, its employees and its readers, more than any business, and I will deal with any problems when I can, but for now I have to focus on my family of GI individuals. "
Founded in 1991, Game Informer currently has over seven million monthly subscribers. GameStop's 35-year game has coincided with the rise of video games, although a recent change to download / streaming and dropping physical copies is hurting corporate profits.
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