Source: StockX / StockX
After a tumultuous 2022 and 2023, the struggles for StockX look set to follow them through 2024. The struggling sneaker resale site is undergoing yet another round of layoffs to start the new year.
According Nice kicks40 corporate members recently received the pink slip, including the company's Chief Marketing Officer, Deena Bahri, who assumed the role in the fall of 2019. On the bright side, those who were laid off were blessed with severance packages including health benefits, an extended vesting window stock option, career placement services, employee assistance plan (eg mental health support) and 401K matching vesting. Heck, they were even given the option to keep their company laptops.
You'd think they'd give them some free sneakers too, but who knows if they'd be authentic (no shots).
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As a result of the layoffs, senior leadership positions have been consolidated and several senior team members within the organization are expected to serve in new roles.
“Our business is multifaceted and continues to evolve. To better align with StockX's current strategic priorities, today we announced an organizational restructuring,” said a statement through StockX. “This includes consolidating and shifting many leadership roles to create a flatter, more streamlined organization that enables faster decision-making, increased visibility and better cross-functional collaboration. We remain committed to our mission of enabling everyone to trade what they love, and thank the many team members who have contributed to this endeavor.”
How this will help the company, which has developed a reputation for passing off bootleg sneakers as “authentic” over the years, is anyone's guess. But it will be interesting to see if StockX actually has a plan to redeem its once good name in the sneaker community.
What do you think about StockX's latest moves? Can they save what's left of their reputation? If so, how? Let us know in the comments section. In the meantime, check out the video below to see how far StockX's reputation has fallen so far.
