Take-Two Interactive to Cut 5% of Staff, Cancels Several Projects
Just a few weeks ago, Rockstar parent company Take-Two Interactive announced it was acquiring Borderlands studio Gearbox for $460 million. Since then, however, the holding company has said it is laying off staff and canceling projects as part of a way to “identify efficiencies” across the business.
GTA 6 is still going ahead
According to a recent filing from Take-Two, the board of directors approved a “cost reduction program” on April 16, 2024. This will ultimately lead to the elimination of “several projects in development” while also “streamlining its organizational structure.”
The report goes on to say that the company estimates “approximately $160 million to $200 million in total charges.” One of the end results of this is the loss of staff. The cost reduction plan is expected to be “largely complete” by the end of this year and will see a 5% reduction in the workforce.
Which projects in particular are being canceled has not been specified, but this is highly unlikely to have an effect on Grand Theft Auto 6. No doubt word will spread soon enough about which games Take-Two has shelved.
The video games industry finds itself in dire straits, with yet more layoffs being announced by huge publishers and holding companies. The Rockstar and Gearbox parent currently has over 11,500 employees, which means around 575 people are about to lose their jobs.
On top of that, we still have no official word on when GTA 6 is likely to launch. It remains to be seen whether Take-Two Interactive will make an announcement anytime soon regarding the hotly anticipated game’s long-awaited release.
The post Take-Two Interactive to Cut 5% of Staff, Cancels Several Projects appeared first on GameRevolution.
