William D’Angelo
, posted 6 hours ago / 854 Views

Take-Two Interactive Software announced it will be laying off around five percent of its staff.

The publisher will also be cancelling several projects in development as a way to reduce costs, which is expected to result in a total charge of up to $200 million.

Take-Two will also be looking to find “efficiencies” in its business, as well as boosting profit margins. The move will result in saving of around $165 million per year. The layoffs are expected to be completed by December 31, 2024.

Rockstar Games, a subsidiary of Take-Two, is currently developing Grand Theft Auto VI, which is in development for the PlayStation 5 and Xbox Series X|S. It is one of the  most anticipated games of all time with the first trailer topping 100 million views in about a day and a half and is currently at 185 million views.

Thanks, Market Watch.

A life-long and avid gamer, William D’Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012 and taking over the hardware estimates in 2017. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel. You can contact the author on Twitter @TrunksWD.

More Articles

Source link