GameStop is a very consistent and logical company that sells fluffy toys as well as physical video games. Worthless NFTs When Promise of get-rich-quick planannounced an “improved compensation” scheme for the oldest employees of brick-and-mortar video game stores.
In a memo sent to employees today, and Shared by Stephen Totilo of Axios— GameStop CEO Matt Furlong said, “As we continue to evolve our e-commerce and digital asset offerings, our store vehicles remain important to GameStop’s value proposition.” As a result, it plans to “roll out an improved compensation model for store leaders.”
For Assistant Store Leaders and Senior Guest Advisors, it comes in the form of an undisclosed hourly wage increase. $21,000 worth of GameStop stock (It is vested for 3 years) In addition to regular salary, there is an “opportunity to earn additional quarterly rewards by achieving performance-based equity grant goals.”
Here is the full text of the memo:
Subject: Investing in GameStop’s store leader
all,
After spending a year building our assortment, infrastructure and technology, we are now focused on achieving profitability, launching unique products, leveraging our brand in new ways and investing in our stores. Our stores in particular are a differentiator that helps us maintain a direct connection with our customers and allows us to offer localized order fulfillment capabilities in more regions. As we continue to evolve our digital asset offerings, our store vehicles remain important to GameStop’s value proposition.
With this in mind, we are excited to announce that we are rolling out an improved compensation model for store leaders. The new model, effective next month, will provide all store leaders with a $21,000 time-based equity grant (bested over three years) and additional quarterly awards for meeting performance-based equity grant targets. Offers opportunities to earn rewards. This is in addition to the existing base salary of each store leader.
The equity compensation associated with this new model will be covered by GameStop’s existing equity plan, which has been approved by shareholders. Leadership believes this model achieves his dual goals of increasing compensation for all store leaders and instilling a spirit of ownership throughout the organization. In conjunction with this investment, we are also increasing hourly wages for Assistant Store Leaders and Senior Guest Advisors.
Additional details will be provided to store leaders and affected employees in the coming weeks. We look forward to continuing to attract and retain passionate, quality talent across our stores.
Matt Furlong
The memo comes two months after an overworked and underpaid staff at a game stop in Gateway Mall in Lincoln, Nebraska. After closing the store and leaving, it became international news.When One month after mass layoffs at company headquarters and Game Informer It was created to enable the company, which pursues profitability through a strong sense of ownership, to operate more nimbly.
It’s also just a few months before the busy holiday shopping season.Pushed to the “breaking point”.
We’ve reached out to GameStop for more information on salary increases for those affected, but if you’re an employee and want to make yourself known. you can do so here.
