A few weeks after the Swoosh pulled StockX’s Fugazi card and accused them of selling them counterfeit Nikes and Jordans, StockX has announced that it laid off quite a few of its employees.
According to NiceKicks, StockX had to give the pink slip to roughly 8% of their workforce citing the spiraling economy as the primary reasons for the layoffs, not because they’re the ones who authenticated the alleged bootleg Nike sneakers. Employees that were given their walking papers stemmed from various departments such as marketing, customer service, operations, engineering, and editorial. You’d think one “authenticator” would’ve gotten the boot in the process (namely whoever authenticated the kicks sold to Nike), but whatever.
While that is an unfortunate turn of events fo the people who were laid off, StockX at least provided them with severance packages and will continue to allow them to collect health care benefits but only for an undisclosed period of time. In a statement addressing the layoffs, StockX blamed the “macroeconomic challenges currently impacting our global economy” as the primary reasons for the decision though we’re sure the damage their reputation took at the hands of Nike’s lawsuit certainly didn’t help.
What do y’all think? Is StockX ever going to be able to get back in the good graces of sneakerheads following such allegations of bubbling bootlegs? Let us know in the comment section below.
Sneaker Recession?: StockX Lays Off 8% Of Its Workforce was originally published on hiphopwired.com
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