GameStop Will Start Paying Some Employees With Meme Stock

GameStop Store

image: Michael M. Santiago (beautiful pictures)

GameStop, a very strict and logical company that sells physical video games but also soft toys, NFT is worthless and the promise of a get-rich-quick schemejust announced an “improved compensation” plan for the top employees of brick-and-mortar video game stores.

In a memo sent to employees earlier today — and shared by Axios ‘Stephen Totilo— GameStop CEO Matt Furlong said that “as we continue to develop our e-commerce services and digital assets, our store team will remain critical to the pricing proposition. value of GameStop” and as a result will “launch an improved compensation model for Store Leaders”.

For Assistant Store Leaders and Senior Client Advisors, it came in the form of an undisclosed hourly increase in their pay. For store leaders, it comes in the form of $21,000 worth of GameStop stock (it is granted for three years) at their regular salary, along with “the opportunity to earn additional compensation each quarter by hitting performance-based equity funding targets”.

Here is the full memo:

Theme: Invest in GameStop Store Leaders

All of,

After a year of strengthening our assortment, infrastructure and technology, we are now focused on achieving profitability, launching exclusive products, leveraging our brand in new ways. and invest in our stores. In particular, our stores are a differentiator that will help us stay directly connected with our customers and position us to be able to fulfill orders that are localized across more geographies. . As we continue to develop e-commerce services and digital assets, our store team will remain important to GameStop’s value proposition.

With that said, I’m pleased to announce that we’re rolling out an improved compensation model for Store Leaders. The new model, which goes into effect next month, provides each Store Leader with a $21,000 timed equity grant (disputed for three years) and the opportunity to earn additional compensation each year. quarter by meeting performance-based equity funding targets. This is in addition to each Store Head’s existing base salary.

The stock compensation associated with this new model is included in GameStop’s existing equity plan, which has been approved by stock owners. Management believes this model accomplishes the dual goal of increasing the pay of every Store Head and fostering a stronger ownership mentality across the organization. Along with this investment, we are also increasing the hourly pay for Assistant Store Leaders and Senior Client Advisors.

In the coming weeks, additional details will be made available to Store Leaders and affected associates. We look forward to continuing to attract and retain passionate, quality talent across our stores.

Matt Furlong

The memo comes two months after overworked and underpaid employees at a GameStop at the Gateway Mall in Lincoln, Nebraska, international news after closing the shop and going outand a month after mass layoffs at the company’s headquarters and Game Informer was made in an effort to make the company more “agile” in its pursuit of profits through a “strong owner mentality”.

It also comes just months before the busy holiday shopping season, which last year saw employees with ranks and profiles — people not mentioned in the memo—push to their “breaking point”.

We’ve reached out to GameStop for specifics on the pay increases for those affected, but if you’re an employee and want to let us know about yourself You can do so here.

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