Take-Two Interactive Announces Major Layoffs and Project Cancellations

The video game giant plans to cut 5% of its workforce, approximately 600 employees, and cancel several in-development projects to reduce costs.

Take-Two Interactive, the publisher behind popular titles like 'Grand Theft Auto', is laying off 5% of its workforce.
The layoffs and project cancellations are part of a cost reduction strategy aiming to save $165 million annually.
Several undisclosed projects are being scrapped as the company seeks to streamline operations and reduce expenses.
The company recently acquired Gearbox Entertainment and is facing financial pressures despite high expectations for upcoming titles like 'GTA VI'.
Industry analysts suggest these moves reflect broader challenges in the gaming industry, including post-pandemic economic adjustments.