StockX

In November 2022, StockX conducted its second round of layoffs within four months, affecting under 80 employees, which represents about five percent of its workforce. The Detroit-based sneaker and streetwear resale marketplace cited the challenges of scaling its business amid a struggling global economy as the reason for the cuts. All impacted employees held corporate roles and received severance packages along with extended benefits. Despite this restructuring, StockX noted it would continue hiring in certain areas, such as brand reputation and customer support, entering its peak season. This followed a larger layoff in June 2022, when eight percent of employees were let go.

StockX, the prominent online resale marketplace for sneakers and streetwear, laid off approximately 12% of its workforce in late April 2020, affecting 100 to 150 employees. This reduction came as the company, which had around 800 employees, faced plummeting demand due to the COVID-19 pandemic's economic impact. CEO Scott Cutler cited the need to cut costs and achieve profitability, aligning with broader efforts to prepare for a potential future IPO. The layoffs impacted teams in quality assurance, engineering, product, and operations across its Detroit headquarters and Arizona office, reflecting a significant restructuring during a period of global economic uncertainty.