Video game retailer GameStop was struggling before the COVID-19 pandemic, and now the store is facing an even more uncertain future. The company has now outlined some of its "business updates" related to the virus, and it includes pay cuts, store closures, and more.

Starting off, GameStop CEO George Sherman has announced he's cutting his salary by 50 percent, while chief financial officer Jim Bell and the rest of the executive team are dropping their salaries by 30 percent. Additionally, members of the board of directors--including Reggie Fils-Aime--are seeing their compensation decreased by 50 percent.

GameStop also announced that "certain other employees" at the company's offices around the world will see their pay reduced between 10 percent and 30 percent starting April 26. Additionally, some members of GameSpot's corporate support staff have been offered a temporary furlough or fewer hours of work for less pay. What's more, GameStop said it did not pay some of its lease payments for its stores due to government regulations and decisions made by landlords.