Canada's Shopify (SHOP) is introducing changes to its employee compensation packages, giving staff the flexibility to choose between payment in cash or stock awards.
The compensation changes come into effect this July, according to media reports.
The changes were disclosed at a company town hall event earlier this week and are aimed at making salaries more competitive at a time when the e-commerce infrastructure firm's stock has taken a beating in the market.
As of yesterday’s close, (April 7), Shopify's New York-listed shares had fallen 65% from their peak last November as the company struggles to maintain sales and growth coming out of the global pandemic.
Shopify shares now change hands at $643.97 U.S.
