Publishing giant Take-Two Interactive, responsible for 2K and Rockstar Games, is restructuring. According to a statement, the publishers responsible for Grand Theft Auto are laying off about 5% of their workforce, which is estimated to be around 600 employees. The full restructuring of Take-Two, along with the layoffs, should be mostly complete by December 31, 2024, before GTA 6 arrives in 2025.
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Along with the layoffs, the company is also canceling several projects under development as part of the cost reduction plan. Without mentioning the names of the projects, the estimated fees for the game are divided to around up to 200 million dollars. Additionally, Take-Two expects to save $165 million in annual costs through this move.
Take-Two acquired Gearbox for $460 million in a record deal earlier this year. According to Reuters reports, canceled projects will account for as much as $140 million of the total charges, while severance and personnel-related costs are expected to be up to $35 million. As part of this budget cut, Take-Two is also expected to eliminate some office space.
Take-Two is currently focusing on bringing GTA 6 to consoles by next year. While there are some questions about the game being ready before the estimated window, the canceled projects could mean that the company is focusing heavily on the Grand Theft Auto franchise for now.
