In a crazy way this is probably saving a lot more jobs than it's jeopardizing.
In this case, it's not really saving any jobs, since GameStop employees (excluding higher ranked employees) probably don't have any part of their compensation that's stock based.
Toys R Us was a leveraged buyout, which is definitely a much more ethically dubious strategy, and that can cause jobs to be lost. This won't cause any jobs at GameStop to be lost, although there probably will be some unhappy traders and people left holding bags of GameStop stock.
Out of curiosity, has that actually happened to a public stock? I'd assume the minority shareholders would have standing for a lawsuit if someone were to do a hostile takeover of a stock and liquidate the assets of the company.