The formerly popular sponge has had a rough time.
Earlier this year he survived a fatwa that was issued against him, along with accusations of his being gay. (NTTAWWT.)
Then, earlier this week, Spongebob was suddenly sacked from his long-running gig at the EoZ blog.
His reign on the E of the Elder logo was always controversial.
"The decision to let him go was not an easy one," said the Elder. "My heart goes out to him and his underwater family. But I was not prepared to see him sink this low, this fast."
Elder is referring to his chance encounter with SpongeBob in Las Vegas earlier today. The yellow sponge was begging for money from passersby, most of whom ignored him.
"He was so alone," recalls EoZ.
"It was very surprising to see him in person. His work for us has been via telecommuting; I certainly didn't expect to run into him in person!" said a visibly shocked Elder.
"I had given him a generous payout, but apparently he went through it already."
"It was really awkward. But on the other hand, he seemed happy, as always."