Take-Two Interactive is laying off around 5 pecent of its workforce, or about 579 workers, and canceling several probjects, the GTA 6 publisher announced in a new filing. The news follows claims from CEO Strauss Zelnick that the publisher had "no plans" for layoffs amid its planned cost reduction program. In the filiing, Take-Two said it is "eliminating several projects in development and streamlining its organizational structure," which includes laying off workers. Take-Two said it expects to incur between $160 and $200 million in total charges, with $120 million to $140 million related to title cancellations.
At the time, Zelnick said of the cost reduction plan, "We haven't put any meat on the bones of that yet. I would just note that our biggest line item of expense is actually marketing. We do think we can optimize that. We also have third-party expenses, software, other vendors, supply services. And we always find opportunity there. The hardest thing to do is to lay off colleagues, and we have no current plans."
They said before they had no plans to do layoffs, yet here we are.
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At the time, Zelnick said of the cost reduction plan, "We haven't put any meat on the bones of that yet. I would just note that our biggest line item of expense is actually marketing. We do think we can optimize that. We also have third-party expenses, software, other vendors, supply services. And we always find opportunity there. The hardest thing to do is to lay off colleagues, and we have no current plans."
They said before they had no plans to do layoffs, yet here we are.
Take-Two Announces Layoffs While Canceling Multiple In-Development Projects - IGN
GTA 6 publisher Take-Two Interactive announced today that it is laying off 5 percent of its workforce, or more than 500 employees, despite earlier claims that it had "no current plans" for additional layoffs.
