Publisher set to release one of the most profitable games of all time lays off 5% of its workforce
It’s also canceled several unnamed projects
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Take-Two Interactive, publisher of theGrand Theft Autofranchise, has just reduced its workforce by laying off around 5% of its staff.
The publisher, which is gearing up to releaseGTA 6in 2025, cut roughly 5% of its entire staff as outlined by an8-K SEC filing. It details a “cost reduction program” (referred to as the “Plan”) that is set to be completed by the end of 2024, and “will reduce the Company’s workforce by approximately 5%.”
As perStatista, Take-Two Interactive employed 11,580 employees as of March 31, 2023, and the company has likely hired even more in the interim between then and now. Taking that into consideration, it’s likely that Take-Two has laid off around 600 staff members.
In the filing, Take-Two also confirms it will be “eliminating several projects in development and streamlining its organizational structure, which will eliminate headcount and reduce future hiring needs.”
It doesn’t go on to say which projects have been canceled specifically, though it is worth mentioning that thenextBioshockgamewasreportedly being developed by Cloud Chamber, owned by 2K, who is in turn owned by Take-Two Interactive. Granted, we haven’t seen anything ofBioshock 4since its initial announcement close to half a decade ago, but that radio silence may now be permanent.
Overall, it’s yet another devastating round of job cuts in an industry that’s had far too many. Take-Two’s layoffs follow in the footsteps ofSony shuttering its London Studioand cutting around 900 jobs worldwide. Several other studios have also undergone staff reductions in recent months, includingUntil DawnandThe Dark Picturesdeveloper Supermassive Gamesas well as the2K-owned Visual Concepts Austin. We hope that all affected are able to quickly land on their feet and find work elsewhere.
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Rhys is TRG’s Hardware Editor, and has been part of the TechRadar team for more than two years. Particularly passionate about high-quality third-party controllers and headsets, as well as the latest and greatest in fight sticks and VR, Rhys strives to provide easy-to-read, informative coverage on gaming hardware of all kinds. As for the games themselves, Rhys is especially keen on fighting and racing games, as well as soulslikes and RPGs.
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