Shopify to allow staff to pick between cash and stock components – The Globe and Mail
2022.04.08 01:45
FILE PHOTO: An employee works at Shopify’s headquarters in Ottawa, Ontario, Canada, October 22, 2018. REUTERS/Chris Wattie/File Photo GLOBAL BUSINESS WEEK AHEAD
(Reuters) – Canada’s Shopify (NYSE:SHOP) Inc has introduced changes to its employees’ compensation packages, giving them more flexibility between cash and stock components, the Globe and Mail reported on Thursday.
The changes will fully come into effect by the second half of this year, starting in July, according to the report.
Shopify did not immediately respond to a Reuters request for comment.
The changes were disclosed at a company town hall on Thursday afternoon, the report said, and were aimed at making salaries more competitive at a time when the e-commerce infrastructure firm’s stock has taken a beating.
As of Thursday’s close, Shopify’s New York-listed shares had fallen 65% from their peak in November last year, as the company struggles to maintain a sales surge seen during the early days of the coronavirus pandemic.
