StockX Layoffs
April 2020
StockX announced a layoff affecting 100 employees (12% of its workforce) in April 2020. The company operates in the Retail sector.
100
12%
Apr 23, 2020
About
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.
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