StockX is going through another round of layoffs, according to multiple sources.
The decision follows the company’s layoffs in June which reportedly affected 8% of the resale platform’s workforce.
Our business is multifaceted and continues to evolve, as does today’s market. We actively manage our business and regularly evaluate our strategic priorities to set StockX up for long-term success. We made adjustments to some of our corporate teams today to align with our current organizational priorities.
While macroeconomic trends require businesses to be nimble, our vision of being the trusted global platform for consuming and trading current culture is as certain as ever. We thank the many team members who have contributed to this effort.
Statement via StockX
The layoffs impacted less than 80 team members in corporate roles, according to an anonymous source at StockX. Those affected were reportedly provided severance packages, health benefits, professional outplacement services, employee assistance plan (mental health support), extended stock option exercise window, 401K match vesting, and the option to keep company laptops.
The layoffs arrive on the eve of the peak holiday season. However, sources told Nice Kicks that the company has made hires to support the season, including Paul Foley as head of brand reputation. The company plans to bring on a head of North American Customer Support, various quantitative marketing roles, and more per the company’s career page.
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