Grand Theft Auto 6/GTA 6 Game Pass Take-Two Interactive

Take-Two Interactive To Lay Off 5 Percent of Staff

Per Reuters, Take-Two Interactive, the publisher of Grand Theft Auto, is laying off five percent of its workforce.

The company announced it would eliminate multiple projects currently in development as part of a cost-cutting initiative expected to result in charges of $160 million to $200 million.

The total cost is divided into three categories: title cancellations, which account for approximately $120 million to $140 million; employee severance and employee-related expenses, which account for roughly $25 million to $35 million; and office space reductions, which account for approximately $15 million to $25 million.

The company had 11,580 full-time employees as of March 2023. Last month, Take-Two Interactive agreed to buy Gearbox for $460 million.

The plan is expected to be completed mainly by December 31, 2024.