Half of a buttload of money is still a buttload of money.

This morning, an agreement filed with the SEC found Activision Blizzard CEO Bobby Kotick agreeing to cut both his salary and annual bonus by 50%. Other incentives, such as the Transformation Transaction Award and Shareholder Value Creation Incentive were also eliminated. The Shareholder Value Creation Incentive was reported to be valued at upwards of $200 million in stock value, or $41 million after tax withholdings.

This cut was reportedly done in response to "shareholder feedback." It also "incorporates market best practices, and continues to directly connect pay to performance."

This effectively brings Kotick's salary from $1.75M to just $875,000 per year. His bonus now drops from a potential maximum of $3.5M to just $1.75M. This agreement also extends Kotick's appointment as CEO until at least March 2023.

This all comes about a month after Activision Blizzard laid off about 190 employees. Just a shame that this massive reduction in Kotick's salary won't bring back their jobs, eh?

(h/t Wowhead)