Take-Two Interactive Joins The Wave Of Layoffs In The Industry
Apr. 18, 2024Take-Two Interactive Joins The Wave Of Layoffs In The Industry
Take-Two Interactive (T2) has announced its plans to abandon the development of several video games, a decision made in the context of a cost-saving campaign that will also result in the dismissal of5 percentof its workforce.
The video game developer and distributor, which encompasses studios like Rockstar Games, 2K, and Zynga, responsible for titles such asGrand Theft Auto,Civilization, andFarmVille, aims to discontinue various projects as part of its cost-saving strategy.
The titles affected by this measure have not been disclosed yet, but the intention to lay off 5% of its workforce has been confirmed. The company’s workforce, previously consisting of 11,580 employees, as per internal documents accessed byBloomberg.
Through this process, the company expects to save up to $200 million. Of this amount, $140 million will be attributed to the canceled projects, and $35 million to workforce-related expenses.
It remains to be seen how this situation will end, as despite all the layoffs that have been carried out to date, it seems that we are only seeing the tip of the iceberg. Nevertheless, it appears that the main games Take Two has in development among its multiple studios, such as Rockstar’s GTA VI, are still moving forward. We’ll see if the success of this title alleviates the situation.
The American distributor follows suit with other gaming companies such as Unity Software, Riot Games, andMicrosoft’s gaming division, which are just a few examples of sector representatives that have experienced massive layoffs this year.
Stay tuned for this and other news likeSony Layoffs Affect 8% or About 900 Employees andMicrosoft Lays Off 1,900 Activision and Blizzard Employees
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