Take-Two lays off 5% of employees, scraps in-development games

Take-Two Interactive, the publisher behind Grand Theft Auto, is joining the companies laying off employees in 2024. According to a filing with the United States Securities and Exchange Commission, the company’s board of directors today approved a cost-reduction plan that would reduce its workforce by 5%. Given the total number of employees at Take-Two, this means that the company would likely layoff around 600 employees.

In addition to the layoffs, the cost-reduction plan would require “eliminating several projects in development and streamlining its organizational structure.” There’s no word on which projects the company plans to cancel, but one could be safe in assuming the upcoming Grand Theft Auto VI is safe. Take-Two reports to the SEC that it believes it will incur $160-200 million as a result of this plan, but that it expects to save $165 million.

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Rachel Kaser

Rachel Kaser is a gaming and technology writer for from Dallas, Texas. She's been in the games industry since 2013, writing for various publications, and currently covers news for GamesBeat. Her favorite game is Bayonetta.