GameStop Eliminates 14% of Corporate Staff in Restructuring

GameStop Corp. eliminated more than 120 corporate staff positions, part of a drive by the video-game retailer to slash costs amid falling sales and a loss of customers to online spending.

The cuts amount to 14% of the retailer’s headquarters posts, according to a statement Tuesday, and mark the latest retrenchment by the struggling video-game chain.

“While these changes are difficult, they were necessary to reduce costs and better align the organization with our efforts to optimize the business to meet our future objectives and success factors,” the company said in the emailed statement.

Shares of the retailer have plunged ...