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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.
