GameStop Struggles Continue, As Company Lays Off 50 Managers - Report

Video game retailer GameStop has suffered another setback, it seems, as the company has reportedly announced a "GameStop Reboot initiative" that is resulting in dozens of layoffs.

A memo announcing the move leaked on Twitter. It states that more than 50 "field leaders" are losing their jobs. Those affected include regional managers, district managers, loss prevention managers, and HR staff, according to the letter (via Gamasutra).

The memo states that GameStop is looking to "reduce our cost structure and build efficiencies into our field leadership organization so that we can reinvest in the business."

It goes on to state: "These decisions are not easy, but necessary to help us reduce costs to enable revenue-driving initiatives that will help grow the business once again."

GameStop did not respond to GameSpot's request for comment, which was made outside of business hours.

Earlier this year, GameStop closed the ThinkGeek website, and folded that business into the wider GameStop umbrella. The company's share price of $3.84 today is close to the lowest its been in the company's history.

Recently, GameSpot spoke with GameStop's chief customer officer, Frank Hamlin, who spoke about why the rise in popularity of digital games won't kill the retailer.