Take-Two to Cut Staff by 5% and Cancel In-Development Projects

Take-Two Interactive, the publisher of GTA 6, is laying off around 5% of its workforce, or approximately 579 employees, and canceling multiple in-development projects. This decision is part of a cost reduction program, with expected charges of $160 to $200 million. Despite previous claims of no plans for layoffs, the company is streamlining its organizational structure and eliminating projects. The layoffs come amidst the company's efforts to optimize expenses and prepare for the release of GTA 6 in 2025, following its recent acquisition of Gearbox and struggles in the mobile gaming sector.