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StockX has undergone another round of layoffs, sources tell Nice Kicks.
The latest round of layoffs follows a series of other layoffs that took place in November 2022 and June 2022. The company’s CFO, John Kaelle, left the company in March 2023.
Among the 40 corporate members affected was Chief Marketing Officer Deena Bahri, who became the online market place’s first-ever CMO in Fall 2019. The company will look to fill the role within the upcoming months.
Those impacted were 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, a source tells Nice Kicks.
As a result of the layoffs, senior leadership positions were consolidated and several senior team members from within the organization are expected to serve in new capacities.
“Our business is multifaceted and continues to evolve. To better align with StockX’s current strategic priorities, today we announced an organizational restructuring,” stated a statement via StockX. “This includes consolidating and shifting several leadership roles to create a flatter, more streamlined organization that enables faster decision-making, increased visibility, and better cross-functional collaboration. We remain focused on our mission to empower everyone to trade what they love and thank the many team members who have contributed to this effort.”
Stay tuned to Nice Kicks as the story develops.
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