Take-Two Interactive aims to save $165 million annually by reducing its workforce by 5% and canceling several game projects.
Also the publisher of the Grand Theft Auto series Take-Two Interactiveannounced that it will lay off 5% of its total workforce, approximately 600 people, in order to reduce costs and provide a more efficient operation. The company plans to save $165 million annually with this move. Additionally, it was stated that several games currently in development would be terminated, but no information was given about the details of the canceled projects.
Take-Two Aims to Save $165 Million by Laying Off 600 People
According to the news by Reuters, Take-Two will have to pay approximately $140 million for the canceled projects. It is estimated that the costs related to laid off personnel will reach 35 million dollars. This strategic downsizing will also reduce the company’s office space, a process that is expected to be largely completed by the end of this year.
Take2’s games include productions such as Grand Theft Auto Series, Red Dead Redemption Series, XCOM Series, Oni, Master of Orion, Mafia, Max Payne, BioShock Series, Borderlands Series, Civilization Series, NBA 2K Series. It is not known whether it will be affected by the situation.