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Take-Two was making layoffs in March, but just paid its top execs $72.3 million

The performance-based payout will be shared between CEO Strauss Zelnick and president Karl Slatoff.

Chris Kerr, News Editor

August 1, 2023

1 Min Read
Artwork from GTA showing a character led on a bed of cash

Take-Two CEO Strauss Zelnick and company president Karl Slatoff will be paid a combined $72.3 million in compensation this year.

As highlighted by Axios and detailed in an SEC filing, the payment is more than double what Zelnick and Slatoff earned in 2022 and will comprise a mix of cash and stock.

It should be noted this isn't a standard salary payment, but a performance-based payout based on a contract Take-Two signed with ZMC, the management company representing both Zelnick and Slatoff.

That contract shows Zelnick and Slatoff have agreed to a 60/40 split of compensation that is directly tied to performance metrics, including some related to player behavior such as recurrent spending.

Executive bonuses at Take-Two

For instance, both execs will share an annual management fee worth $3.2 million and performance-based RSUs worth $43.8 million, the latter of which assumes that targets related to "recurrent consumer spending" and "IP performance achievement" were achieved.

The news comes around five months after Take-Two revealed it would be pushing ahead with a $50 million cost reduction program.

The company, which oversees franchises like Grand Theft Auto and NBA 2K, said the cuts would affect its "corporate and publishing functions" and impact personnel, processes, and infrastructure.

A few weeks later, Take-Two confirmed some employees at its U.S. publishing label, Private Division, had been laid off as a result of that cost cutting.

About the Author(s)

Chris Kerr

News Editor, GameDeveloper.com

Game Developer news editor Chris Kerr is an award-winning journalist and reporter with over a decade of experience in the game industry. His byline has appeared in notable print and digital publications including Edge, Stuff, Wireframe, International Business Times, and PocketGamer.biz. Throughout his career, Chris has covered major industry events including GDC, PAX Australia, Gamescom, Paris Games Week, and Develop Brighton. He has featured on the judging panel at The Develop Star Awards on multiple occasions and appeared on BBC Radio 5 Live to discuss breaking news.

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