tldrdailynews.com logo

Take-Two Interactive to Lay Off 5% of Workforce and Cancel Projects

1 min read
Source: Variety
Take-Two Interactive to Lay Off 5% of Workforce and Cancel Projects
Photo: Variety
TL;DR

Take-Two Interactive, the publisher behind "Grand Theft Auto," is laying off 5% of its workforce, about 600 employees, and canceling several projects as part of a cost-cutting initiative. The company filed paperwork with the SEC, stating that the downsizing will be largely complete by the end of 2024. These cuts come amid a wave of layoffs in the gaming industry, and Take-Two estimates between $160-$200 million in charges as a result of its cost-cutting plan.

Topics:technologybusiness-gaming#business-gaming#cost-cutting#gaming-industry#grand-theft-auto#layoffs#take-two-interactive
Share this article
  1. ‘Grand Theft Auto’ Publisher Take-Two Interactive to Lay Off 5% of Workforce, Scrap Several Games  Variety
  2. GTA 6, BioShock publisher Take-Two to lay off hundreds and cut projects  The Verge
  3. Take-Two Announces Layoffs While Canceling Multiple In-Development Projects  IGN
  4. Take-Two Interactive to Cut 5% of Jobs, Slash Projects  The Wall Street Journal
  5. 'Grand Theft Auto' maker Take-Two to let go 5% of staff, scrap some projects  Reuters

Want the full story? Read the original reporting

Read on Variety