GameStop's New CEO Ryan Cohen Implements Extreme Frugality for Survival

GameStop's newly appointed CEO, Ryan Cohen, sent a memo to employees emphasizing the need for "extreme frugality" and cost-cutting measures to ensure the struggling video game retailer's survival. Cohen, a billionaire activist investor, stated that every expense must be scrutinized and waste eliminated, urging employees to treat company money as their own. He also announced that he will not receive a salary in his new role. This comes as GameStop continues its efforts to reinvent itself and stay relevant in the face of declining sales and increased competition from online gaming.