Following GameStop’s (GME) stock and business over the course of the last few years has been a wild ride. Where the company looked ready to go belly up in 2019, it’s now transforming immensely to become more profitable and survive well into the foreseeable future. There’s been a lot of restructuring throughout GameStop, but recently the company made a move to better invest in its store leaders. The rollout of a new plan will provide stock compensation for GameStop store leaders and hourly pay raises for assistant store leads.
This rollout was revealed in an email from GameStop CEO Matt Furlong, as acquired by Axios journalist Stephen Totilo. According to the letter sent out to employees by Furlong, the company has finished restructuring a number of areas and is now prepping to better invest in further evolution of its e-commerce business. That includes investing better in physical stores and their staff. Under the plan, GameStop store leads will now be granted $21,000 in company stock vested over the course of three years. Additional compensation will be offered for hitting quarterly performance-based goals.
All the while, GameStop is also moving to bump the hourly wages of other key employees in its physical store ecosystem. Assistant store leaders and senior guest advisors within the company will be receiving increases in their hourly pay, which will be rolled out in the weeks ahead from the time of publication of this letter. This marks quite a turnaround from just one month ago when CFO Mike Recupero resigned and layoffs cut a number of employees throughout the company. GameStop has since officially rolled out its NFT Marketplace and this latest move marks a positive for a lot of employees throughout the company.
As the pay raise and stock compensation plan rolls out, be sure to stay tuned as we continue to follow and cover GameStop business and GME stock activity, right here at Shacknews.