After making $8.5 billion from GTA (dewjagaming_♡♤◇)
By Dewja gaming ♡♤◇♧
GTA 6 publisher Take-Two Interactive has announced it's laying off 5% of its workforce and canceling several projects.
GTA 6 publisher Take-Two Interactive has announced it's laying off 5% of its workforce and canceling several projects.
Per Bloomberg, Take-Two revealed in an end-of-business SEC filing a plan to save itself more than $165 million annually due to "reductions in its existing expense base and lowered projected expense growth for the coming years." In the process, it'll incur up to $200 million in charges, the majority of which - up to $140 million - is related to the cancelation of projects, while another $25 million to $35 million is related to employee severance and related costs. Take-Two is also reducing its office space as part of the plan.
Back in February, Take-Two CEO Strauss Zelnick said that the company had "no current plans" to undergo layoffs. To see this turnaround is particularly galling, not least because in GTA 5, Take-Two owns one of the industry's greatest cash-cows - Rockstar's game has made at least $8.5 billion since its release in 2013.
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