DETROIT — Detroit-based StockX has laid off more employees as it faces the challenges of a struggling economy. This is the second round of layoffs since June for the online resale platform.
"Our business is multifaceted and continues to evolve, as does today's market," the company wrote in a statement Thursday. "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."
Fewer than 80 employees with corporate roles are affected; the company did not disclose the number of staff members impacted in its Detroit office.
The affected employees were provided severance packages, health benefits, employee assistance plan, professional outplacement services, extended stock option exercise window and 401(k) match vesting. They were also give the option to keep company laptops.
StockX's web site says the company employs more than 1,500 around the world.
In June, StockX said it had laid off 8% of its workforce, citing "macroeconomic challenges." An estimated 120 employees were affected.
