Online sneaker marketplace, StockX is back in the news for facing challenges of scaling its business in the current struggling global economy, recently confirming that it laid off employees again.
About 80 employees were layed-off, and all affected employees worked corporate roles. However, all effected were given severance packages, stock option windows and health and mental health benefits. Despite the corporate restructuring, StockX says that it will be expanding some teams as it enters its peak season. It recently hired a new head of brand reputation and is looking to fill roles including a head of North American customer support.
This isn’t the first time the company has made drastic cuts, earlier this year in June, StockX made larger cuts laying off eight percent of its employees.