StockX Lays Off 8 Percent of Its Employees

Resale exchange StockX confirms today that it has laid off eight percent of its workforce as it looks to continue to grow, a statement said.

June 28, 2022

StockX Authentication Tags — A pile of StockX authentication tags. Image via StockX
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StockX today laid off a substantial portion of its workforce as it looks to continue to grow and invest in “long-term sustainability,” a statement said.

The company confirmed a total of eight percent of employees were impacted by the layoffs, although it isn’t specified which departments were affected. Additionally, StockX confirms that those let go received severance packages and will have temporary health benefits following their terminations. News of the cuts was first reported by Sole Retriever.

StockX’s last noteworthy round of layoffs came in April 2020 just as Covid began to surge. That amounted to 12 percent of employees (confirmed to be over 100 people at the time) across product, quality assurance, engineering, and operations in both its Arizona office and Detroit headquarters. Those employees were provided health benefits through October 2020.

StockX issued the following statement on today’s layoffs:

As of writing, StockX is currently defending itself against a lawsuit from Nike over the resale platform’s alleged trademark-infringing NFTs along with claims of allowing counterfeits to pass through its authentication process.