Bobby Kotick, the CEO of Activision Blizzard, will receive an enormous bonus due to his company's performance over the course of the COVID-19 pandemic. According to a Kotaku report, Kotick is about to receive almost $200 million USD for the milestones the publisher hit last year.
The payout follows a surge in Activision Blizzard's stock price, which has steadily grown over the past years. While the pandemic may have affected many businesses, Bobby Kotick found ways to only increase the value of his enterprise. Whereas the ATVI stock sat at a $56 price last March, last month it settled at a $92 price: a massive increase. Although the details are more complex, Kotick's 200 million payout is basically a reward for this progress.
The reported bonus for Kotick raised eyebrows to say the least. Earlier this week, it was announced that Activision Blizzard would lay off almost 200 people company-wide, including 50 people responsible for creating their flagship esports competitions Overwatch League and Call of Duty League.
In 2019, Activision Blizzard laid off nearly 800 workers too, also amid rapid financial growth of the company. A short while after those layoffs, Kotick shared in an investor's meeting how great the company had been performing and how much money they had made again. Later, Activision Blizzard pledged to start hiring more people again, although people quickly noticed that many of their former jobs had merged with other tasks, for a lower total payout.
Activision Blizzard is giving people the boot as the company looks to make changes in how it handles esports events.
Image courtesy Activision Blizzard.