Take-Two Interactive plans to lay off 5% of its staff and cancel several projects as part of a cost-saving program. Bloomberg writes about it in a report.
According to the filing, the company will save about $200 million, including $140 million in canceled projects and $35 million in personnel-related costs.
As of the end of the last fiscal year, Take-Two had 11,580 full-time employees, so the layoffs will affect about 600 people. There is no information about the canceled projects yet.
Earlier in its financial report, the company had already announced that it was planning a cost-cutting program. However, in a recent interview with IGN, CEO Strauss Zelnick said that there are no plans to lay off employees.
Grand Theft Auto VI, which will be released under the company’s wing in 2025, is expected to become one of the most profitable media products of all time, and GTA V is still holding its own, but despite this success, layoffs have been necessary.
We would also like to remind you that Take-Two is preparing to announce a new game in the Mafia series in the near future.
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