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StockX Reduce Workforce by Eight Per Cent Due to ‘Macroeconomic Challenges’

StockX’s eventful 2022 continues with the emerging news that they have laid off about eight per cent of their workforce across multiple departments, citing ‘macroeconomic challenges’ making the decision necessary.

As confirmed by company insiders contacting Nice Kicks, StockX have begun a major round of layoffs effective immediately. Those affected comprise parts of the marketing, editorial, customer service, operations, and engineering teams. They will reportedly be provided severance packages and healthcare benefits for an unknown time following termination.

StockX released an official statement on the layoffs, reading ‘The macroeconomic challenges currently impacting our global economy continue to affect consumer behaviour, and hit businesses of all shapes and sizes. StockX is not immune to these challenges, and while our business continues to grow, the current climate calls for us to make adjustments. As a result, we made the difficult but prudent decision to reduce our workforce.’

The statement continues with, ‘[E]ffectively navigating today’s reality requires investment in long-term sustainability.' This long-term vision seemed a reality with rumours of an IPO push at the beginning of the year. StockX’s 2022 has since developed into other dramas, chiefly a 122-page rebuttal to ongoing accusations by Nike regarding the resale platform selling inauthentic product.

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