Another "cost-reduction plan" is about to happen within the games industry. Take-Two Interactive Software say that they will lay off about 5% of its total workforce.
In addition to these cuts, the holdings company said that they will be cancelling or scrapping several projects that are currently in development. Take-Two says that these layoffs and game cancellations will be mostly completed by December 31, 2024.
According to their 2023 annual report (PDF), Take-Two employed 11,580 people. The company reported $5.35 billion in revenues in 2023. Take-Two Interactive owns a number of publishing arms and development studios such as 2K, Rockstar Games, and Private Division. In late March 2024, Take-Two purchased most of Gearbox Entertainment for $1.3 billion.
