Take-Two Interactive, the publisher behind Grand Theft Auto and parent company of Rockstar Games, has revealed plans to reduce its workforce by approximately 5%, affecting around 600 employees. This downsizing initiative is part of a broader cost-cutting strategy that includes the cancellation of several projects currently in development.
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Take-Two Interactive
The official announcement was made through paperwork filed with the Securities and Exchange Commission (SEC) on Tuesday. According to the filing, the downsizing process is expected to be completed by the end of the year 2024.
In addition to reducing headcount, Take-Two aims to streamline its organizational structure and rationalize its project pipeline. This entails eliminating several projects in development and adjusting future hiring needs to align with the company’s strategic objectives.
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