Eric Braeden

Victor Newman is leaving Genoa City — apparently for good.

Eric Braeden, who has played Newman on The Young and the Restless since 1980, told Entertainment Weekly that he has "pulled the plug" on more talks to stay on the CBS soap.

Watch free full episodes of Y&R

Braeden walked off the set in September over a contract dispute with Sony, which wanted the actor to take a pay cut. Braeden, instead, decided to exit.

The 68-year-old Emmy winner, who reportedly was pulling in a seven-figure salary, says he has since counter-offered to take a "substantial" pay cut on the top of a voluntary 10 percent reduction he took two years ago, but the production company did not accept.

"We reached an impasse in the negotiations," Braeden told EW. "I have shown flexibility, they have shown none ... That's a sign of utter disrespect. I will not negotiate with people who remain aloof and arrogant about the whole thing. Not after 30 years, I won't do that."

Y&R recasts Victor's son with man from Mars

Braeden, whose last episode will air Nov. 2, added that he's looking for new opportunities but would not specify. "It's slowly sinking in (that I'm leaving)," said Braeden. "It's sad."

Are you sad to see Braeden go?