GameStop has announced that it's preparing to re-open stores in some states as CEO is taking a 50% salary reduction as part of pay cuts across the company.
"The Company has begun the process of re-opening stores in Italy, Germany, Austria and the states of South Carolina and Georgia and is preparing for the potential to re-open in other operating countries and states in the coming weeks," GameStop announced in a business update.
GameStop also announced that its CEO, George Sherman, will take a "temporary base salary reduction of 50%". Other members of the corporate leadership team, including CFO Jim Bell, will also get 30%pay cuts while GameStop's board of directors including former president of Nintendo of America Reggie Fils-Aimé, will take 50% cuts.
However, some employees are also getting pay cuts: "Beginning April 26th, certain other employees across the Company's worldwide operating units will receive temporarily reduced pay of between 10% and 30%," GameStop said.
One-third of GameStop are currently closed in the U.S. with the rest selling games only via curbside pickups. Last month, the company closed all of its U.S. stores amid the ongoing COVID-19 pandemic, but only after all non-essential business in several states were ordered by the government to shutdown.
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