"GameStop Faces Sales Decline and Layoffs Amid Stock Plunge"

GameStop has announced job cuts and experienced a significant drop in sales, with concerns raised about the sustainability of its revenue decline due to the increasing popularity of digital downloads. Analysts predict that sales may decline to an unsustainable level if management fails to drive store traffic. The company has taken measures to reduce spending, including layoffs and exiting operations in certain countries, leading to a decrease in share price.