Source: NurPhoto / Getty / Take-Two
Even with games like Grand Theft Auto V, the forthcoming GTA 6, and the NBA 2K franchise under its belt, Take-Two Interactive is the latest video game publisher that will reduce its workforce and drop projects.
Spotted on The Verge, Take-Two announced it will lay off “approximately five percent” of its global workforce and scrap several projects already in development.
In an SEC filing published Tuesday, the company said it was “streamlining its organizational structure, which will eliminate headcount and reduce future hiring needs.”
Take-Two says that its “cost reduction program” will see the company be subject to charges up to $200 million, hoping to save $165 million a year.
The website reports that Take-Two’s downsizing efforts should be “largely completed” by December 31st, 2024.
As for the workers, a 5% reduction in the workforce would amount to around 579 out of the company’s 11,580 employees, which Take-Two disclosed in a previous impact report.
There is no word on what departments the layoffs will happen in or what projects Take-Two will be cutting. GTA 6 will feel the sting of these cost-cutting measures.
Of course, the news is not sitting well with gamers who tire of hearing about layoffs in an incredibly profitable industry.
Oh, and we can’t forget that Take-Two Interactive is still working on purchasing Borderlands developer Gearbox from The Embracer Group for $460 million.
“They’re doing this a year out from releasing the sequel to the most commercially successful game of all time,” one user on X, formerly Twitter, said.
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