Source: NurPhoto / Getty / Take-Two
Even with games like Grand Theft Auto Vthe next GTA 6and NBA 2K Take-Two Interactive is the latest video game publisher to cut its workforce and shed projects.
It has been detected The lipTake-Two announced that it would lay off “about five percent” of its global workforce and scrap several projects already in development.
In an SEC filing published Tuesday, the company said it is “streamlining its organizational structure, which will eliminate headcount and reduce future hiring needs.”
Take-Two says its “cost-cutting program” will saddle the company with up to $200 million in charges, hoping to save $165 million a year.
The site says Take-Two's downsizing efforts should be “largely” complete by December 31, 2024.
In terms of employees, a 5% reduction in the workforce would amount to about 579 of the company's 11,580 employees, Take-Two revealed in prior impact report.
There's no word on which departments the layoffs will take place in or which projects Take-Two will cut. GTA 6 will feel the sting of these cost-cutting measures.
Of course, the news doesn't sit well with gamers who are tired of hearing about layoffs in an incredibly profitable industry.
Oh, and we can't forget that Take-Two Interactive is still working on buying Borderlands developer Gearbox from Embracer Group for $460 million.
“They're doing this a year after releasing the sequel to the most commercially successful game of all time,” said one user on X, formerly of Twitter.
You can see more reactions in the gallery below.
