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GTA Publisher Take-Two Laying Off About 5% of Staff, Cancels Projects

GTA Publisher Take-Two Laying Off About 5% of Staff, Cancels Projects - News

by William D'Angelo , posted on 01 May 2024 / 2,484 Views

Take-Two Interactive Software announced it will be laying off around five percent of its staff.

The publisher will also be cancelling several projects in development as a way to reduce costs, which is expected to result in a total charge of up to $200 million.

Take-Two will also be looking to find "efficiencies" in its business, as well as boosting profit margins. The move will result in saving of around $165 million per year. The layoffs are expected to be completed by December 31, 2024.

Rockstar Games, a subsidiary of Take-Two, is currently developing Grand Theft Auto VI, which is in development for the PlayStation 5 and Xbox Series X|S. It is one of the  most anticipated games of all time with the first trailer topping 100 million views in about a day and a half and is currently at 185 million views.

Thanks, Market Watch.

A life-long and avid gamer, William D'Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012 and taking over the hardware estimates in 2017. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel. You can contact the author on Twitter @TrunksWD.

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Giggity_goo (on 17 April 2024)

this is one company that doesn't need to save its pennies

  • +3
DekutheEvilClown Giggity_goo (on 17 April 2024)

They made a $1.3b loss in 2023 accounts and predicting a $600m loss for their 2024 accounts

  • -1
Signalstar (on 17 April 2024)

Hmm so barely releasing new games and milking GTA V and GTA Online isn't cutting it? So there solution is to cancel other presumably non-GTA project? Shame.

  • +2
LivncA_Dis3 (on 17 April 2024)

Thats what happens when you rest in your laurels,
And then blames employee for lack of release,

Publishers are absolute scumbags nowadays

  • +1
G2ThaUNiT (on 16 April 2024)

Damn, nearly 600 employees.

  • +1
Vengeance1138 (on 16 April 2024)

Because laying off almost all of Gearbox Publishing wasn't enough??

  • 0
GymratAmarillo Vengeance1138 (on 16 April 2024)

Technically Take2 didn't lay off Gearbox Publishing, Embracer didn't sell them and they are still working there, that's the "good news". But yeah, what's the point of buying a studio when you are about to fire people OR they bought a studio without money ready so they had to fire people and cancel projects to even some numbers. Either way it's a trash move from them.

  • 0
Vengeance1138 GymratAmarillo (on 17 April 2024)

"Embracer didn't sell them and they are still working there".
Except they aren't still working there, almost the entirety of Gearbox Publishing went under the moment Take-Two acquired them. Only a very small skeleton crew remains, for how long who knows.

  • 0
GymratAmarillo Vengeance1138 (on 17 April 2024)

I don't mind the good old quote to prove me wrong but to correct someone they have to be wrong first LOL.

  • 0
Vengeance1138 GymratAmarillo (on 18 April 2024)

I'm well aware of the cute little rebrand. Doesn't change the fact they'd need to hire a ton of ppl just to fill the department. Since almost nobody is left at the moment.

  • 0
BFR (on 17 April 2024)

Not a bad trade off in my opinion, to lay off 5% of your employees in order to motivate the remaining 95% to get back to work and not take their jobs for granted. Hell, Tesla just announced layoffs of 10% of its staff. Employees at all companies need to wake up.

  • -5