Take-Two Interactive Abandons Multiple Projects, Lays Off 5% of Its Workforce

Take-Two Interactive (T2) has announced plans to discontinue the development of several video games as part of a cost-saving campaign that will also lead to a 5 percent reduction in its workforce. The company, which includes Rockstar Games, 2K, and Zynga studios responsible for popular titles like Grand Theft Auto and Civilization, aims to abandon multiple projects to save costs.

The specific titles affected by this decision have not been disclosed, but the company plans to lay off 5 percent of its workforce, which currently consists of 11,580 employees. It remains unclear whether this will impact the launch of Grand Theft Auto VI (GTA VI), which was officially announced by Rockstar Games last year for release in 2025.

The cost-saving measures are expected to save the firm up to $200 million, with $140 million attributed to canceled projects and $35 million to staff-related expenses. This announcement follows CEO Strauss Zelnick’s recent comments about implementing a major cost reduction program to maximize profit margins.

Despite highlighting marketing as a significant expense, the CEO confirmed that there were no plans for layoffs as part of the company’s restructuring strategy. Take-Two Interactive joins other gaming companies like Unity Software, Riot Games, and Microsoft’s gaming division that have seen significant layoffs this year.

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In conclusion, Take-Two Interactive has announced plans to abandon several video game projects due to cost-cutting measures that will lead to a 5 percent reduction in its workforce. While some may see this move as concerning regarding GTA VI’s launch date in 2025