GameStop drops axe on EB ops in Philly
576 employees to get pink slips by next summer; retail stores remain, former EB corp HQs and distribution site will close.
The $1.4 billion GameStop Corp. merger with Electronics Boutique Holdings Corp., which was completed over the weekend, was bound to see some layoffs. Today, GameStop announced the first casualties of the business move.
The sites that formerly housed the corporate headquarters and a distribution center of Electronics Boutique, located in the Greater Philadelphia area, will be no more by next summer, reports the Philadelphia Business Journal. With them go 576 full-time jobs and 159 temporary and seasonal jobs.
The retail outlets in the area will remain, but like the near-2,000 Electronics Boutiques stores acquired by GameStop, they will eventually be rechristened under the GameStop banner.
GameStop has said that some employees of the City of Brotherly Love EB operations may be transferred to GameStop's headquarters in suburban Dallas.
A second Electronics Boutique distribution site, located in Louisville, Kentucky, will remain open, according to the Philadelphia Business Journal.
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