GameStop to Start Paying Some Employees with Meme Stock! Worth $21,000?

GameStop is set to pay some of its retail employees with its meme stock, which would be worth roughly $21,000.

It comes as the video game firm unveils its "improved compensation" for its workforce.

GameStop to Pay Employees with Meme Stock

As per a news story by Kotaku, GameStop has expanded beyond merely selling video games in its brick-and-mortar retail stores.

In fact, the retailer now dives into the world of NFTs and blockchain in general, not to mention it also sells stuffed toys for some reason.

And this time, GameStop says that it is now working to reach profitability, which includes introducing new products and investing in its retail stores, according to a report by The Wall Street Journal.

That said, the retailer introduced a new and "improved compensation" package for some of its senior employees who run its retail stores in various locations.

One of the new additions to the compensation scheme for its retail employees is none other than the GameStop stock grant. But it also includes pay raises for some of its workers.

The video game firm said it plans to grant its "Store Leaders" $21,000 worth of the meme stock starting next month.

The internal memo to employees, spotted by Axios journalist, Stephen Totilo, says that "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)."

The memo further adds that "stock compensation associated with this new model is covered under GameStop's existing equity plan, which was approved by stockholders."

GameStop Introduces 'Improved Compensation' for Retail Workforce

No less than the Chief Executive Officer (CEO) of GameStop, Matt Furlong, states that "while we continue evolving our e-commerce and digital asset offerings, our store fleet will remain critical to GameStop's value proposition."

And given that, the big boss of GameStop announced in a recent memo that the video game firm is "rolling out an improved compensation model for Store Leaders."

(Photo : Michael M. Santiago/Getty Images)
NEW YORK, NEW YORK - JANUARY 27: GameStop store signage is seen on January 27, 2021 in New York City. Stock shares of videogame retailer GameStop Corp has increased 700% in the past two weeks due to amateur investors.

So besides the stock grant for some senior retail employees, the firm is also giving its Store Leaders a chance to increase their pay based on their performance.

But that's all. Both the Senior Guest Advisors and Assistant Store Leaders at its brick-and-mortar locations are receiving better hourly pay as part of the "improved compensation" package.

It turns out that the new compensation scheme at GameStop not only includes meme stock grants but also gives away performance-based bonuses and pay raises.

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Written by Teejay Boris