In a recent announcement made by Gamestop CEO (George Sherman), plans to reopen stores are under way and so are Gamestop Salary Cuts…
Gamestop Salary Cuts Are Underway…
Sherman, who has been at the helm of Gamestop since April 2019 will apparently be shaving executive salaries by 30% as well as his own 50%, but will Gamestop salary cuts be enough to survive at this point?
In a recent Business Insider article by Hayley Peterson , Gamestop was on an extensive list of well-known brands that were on the chopping block due to the Covid-19 pandemic. These brands; however, were already in trouble well before having to close their stores due to the global widespread occurrence.
The One Strategy Four Concepts Idea…
Case & Point, just last year Gamestop was running some experiments as attempts to save its business… Their main strategy, which comes in four concepts is to turn Gamestop from a regular retailer into more of a hangout, sort of like the comic book shop idea.
- Gamestop 2.0 Concept – Where you can try out and rent consoles
- Esports Concept – Where you can compete alongside others
- Collectors Concept – Where you can come in and find those Funko products
- Tabletop Games Concept – Where you can play D&D and Magic The Gathering
With one third of their stores shut down and two thirds operating curbside, not to mention with more and more gamers purchasing their video games online, will Gamestop salary cuts be enough for the brand’s survival?
What are your thoughts? Please leave your comments below so that we may continue the conversation.