TCGPlayer is laying off “just under 15%” of its employees, CEO Chedy Hampson confirmed to ICv2.  The layoffs are the result of a staffing review that revealed that the company had “…become overstaffed in many areas over the last few years,” according to a statement he provided.  The layoffs “...will ensure that we stay focused and can execute on only the most impactful projects,” he continued. 

TCGPlayer has been on an expansion tear recently, raising $10 million in investment capital (see “TCGPlayer Raises $10 Million in Investment Capital”), and moving into an expanded headquarters location last year (see “TCGPlayer Creating Themed Headquarters”).

After the layoffs, the company will have over 200 employees, Hampson told ICv2.  At the time of the move into the new headquarters late last year, TCGPlayer had around 200 employees at its Syracuse, New York location.  The company also operates a development facility in Atlanta, Georgia.

Here is Hampson’s full statement on the layoffs:

“As we approach 2020, TCGplayer set our objectives very clearly around delivering Point of Sale software into Brick & Mortar stores, improving our online Marketplace experience, and coordinating better interactions with online content sites. When we sat down to fully align our teams around achieving these objectives it became clear that attempting to perform work beyond these objectives would cause us to be unfocused and hurt our ability to execute, and as such, we have realized we have become overstaffed in many areas over the last few years.

“Today we took the extremely difficult step of separation with a number of our colleagues, who will each be receiving severance packages. This necessary step will ensure that we stay focused and can execute on only the most impactful projects. This step ensures that we will deliver collectible hobby industry-defining products throughout 2020 and beyond.”