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GameStop to increase the wages of store employees

The company will also give store managers a new performance compensation model and stock options

Video games retailer GameStop announced that it's increasing the wages of assistant store leaders and senior guest advisors.

As reported by Axios' Stephen Totilo, CEO Matt Furlong said in a company memo that the changes will be effective in September.

Also store leaders (store managers) will be receiving a new compensation model.

"The new model, which goes into effect next month, provides every store leader a time-based equity grant of $21,000 (vesting over three years) and the opportunity to earn additional compensation every quarter by hitting goals for performance- based equity grants," Furlong said.

Store leaders will also have stock options as well.

Furlong added, "We look forward to continuing to attract and retain passionate, quality talent across our stores."

GameStop's new employee pay increases follows months after the company has been in the news for alleged labor issues and cutting staff.

During May, the retail chain was sued for reportedly violating New York labor legislation.

This past July, it proceeded to lay off staff across the company which included its Game Informer press outlet.

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Jeffrey Rousseau avatar
Jeffrey Rousseau: Jeffrey joined in March 2021. Based in Florida, his work focused on the intersectionality of games and media. He enjoys reading, podcasts, staying informed, and learning how people are tackling issues.
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