Take-Two Interactive is making strategic changes by reducing its workforce by 5 percent, equating to approximately 600 employees, by the year’s end. This decision, outlined in an SEC filing, includes the cancellation of various projects. The implementation of these measures is estimated to cost between $160 million to $200 million, with anticipated annual savings of $165 million for Take-Two.
Renowned for titles like Grand Theft Auto and as the parent company of Rockstar Games, 2K, Private Division, Zynga, and Gearbox, Take-Two is a dominant force in the gaming industry. With a reported revenue of $5.3 billion in 2023, marking a substantial increase from the previous year, the company continues to thrive. Recently, Take-Two finalized the acquisition of Gearbox, the studio behind Borderlands, for $460 million. The upcoming release of Grand Theft Auto VI in 2025 is poised to generate significant revenue.
In 2023, Take-Two underwent a round of layoffs within Private Division, the label responsible for popular games like Kerbal Space Program and The Outer Worlds.
2024-04-16 18:59:04
Source: www.engadget.com