GameStop Planning Raises and Stock Gifts For Employees

GameStop is planning to distribute stock and pay raises to a number of employees. The brick and mortar workers are getting the boost after the company decided to focus more on their retail efforts under new management. The Wall Street Journal reported on the move and signals a shift away from online commerce in the way that GameStop has pressed over the last few years. All U.S. store leaders will get stocks and the senior store staff will see raises. CEO Matt Furlong said in a memo that the leaders of locations could look forward to up to $21,000 in stock over three payments. With the pandemic raging, the company had to figure out how to adjust to the new climate. A bump from the meme stock phenomenon helped keep the lights on. But, when the organization tried to lean on the idea of NFTs and Crypto, they were reminded of who their core consumers were. Hence the redoubled effort on in-person employees and the shops. 

"After spending a year strengthening our assortment, infrastructure and tech capabilities, we're now focused on achieving profitability, launching proprietary products, leveraging our brand in new ways and investing in our stores," Mr. Furlong told the workers in the memo. "While we continue evolving our e-commerce and digital asset offerings, our store fleet will remain critical to GameStop's value proposition."

Not too long ago, GameStop made the move to install a new CEO. 2022 has been a bit of a roller coaster for the brand as the multitude of changes stemming from the pandemic continue to be a concern. A documentary highlighted the stock escapades of the previous two years. You can watch that on HBO Max while it's still up there.

The company said, "Mr. Furlong is a veteran e-commerce leader with significant experience implementing growth strategies across global geographies and product categories. Most recently, he was a Country Leader and oversaw Amazon's Australia business during a period of substantial growth. He was previously a Technical Advisor to the head of Amazon's North America Consumer business. Throughout his nearly nine years at Amazon, he also ran a variety of product categories and oversaw strong market share expansion. Mr. Furlong began his career at Procter & Gamble, where he was an executive focused on brand, marketing and sales strategies."

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