Last month, GameStop announced new stock bonuses for store managers and hourly raises for other employees. It seemed like some relief was finally coming for the staff, who have been through so much these last few years, all while watching investors profit off unprecedented meme stock hijinks. Over the past week, however, employees learned those raises would be measly at best. Only $0.50 an hour in many cases. Even lower in others. All while GameStop reported its CEO made $16.8 million last year.
It’s been a rough couple years for GameStop employees. First covid hit. Then the store closures. Turnover rose as the burnout set in amid a record meme stock frenzy coupled with little help for staff on the business’ frontlines. While local stores cut hours, executives left with golden parachutes. But in August, after the latest round of brutal corporate layoffs, GameStop CEO Matt Furlong announced the company would make major new investments in its store managers and hourly workers. Managers would get $21,000 in company stock that would vest over three years. Other employees would get hourly raises. Maybe some of that meme stock gold was finally starting to trickle down?
Not quite. Five current staff tell Kotaku the standard hourly raise for regular store employees is only $0.50. One reported getting even less. “My raise is a whopping $0.38 cents an hour,” they told Kotaku in an email. “I’ve been there 10 years;…
