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GTA 6 publisher Take-Two is laying off hundreds of developers and canceling projects
17.04.2024 - 00:57 / gamesradar.com / Jordan Gerblick
GTA 6 publisher Take-Two Interactive has announced it's laying off 5% of its workforce and canceling several projects.
Per Bloomberg, Take-Two revealed in an end-of-business SEC filing a plan to save itself more than $165 million annually due to "reductions in its existing expense base and lowered projected expense growth for the coming years." In the process, it'll incur up to $200 million in charges, the majority of which - up to $140 million - is related to the cancelation of projects, while another $25 million to $35 million is related to employee severance and related costs. Take-Two is also reducing its office space as part of the plan.
Of course, the elephant in the room, at least for GamesRadar+ readers, is what will happen to GTA 6, and although it's safe to say the highly anticipated sequel is not one of the canceled projects, it's possible the reduction in workforce could negatively impact its development. A recent report suggested GTA 6 could be delayed from 2025 to 2026 due to a lag in development, and if nothing else, layoffs alone wouldn't do much to help remedy the situation.
In March, Take-Two acquired Borderlands developer Gearbox for $460 million, and GTA 6 is expected to be one of the most successful games of all time. Regardless, it's now contributing to the staggering number of layoffs hitting the video game industry following the pandemic boom, including at Microsoft, EA, Sony, Riot, and more.
Meanwhile, Baldur's Gate 3 boss has told layoff-happy publishers to stop trying to "double" their money and instead "respect the people making the games."
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GTA 6 publishers Take-Two cancel games and lay off hundreds to "rationalize" their pipeline
GTA 6 publishers Take-Two Interactive have announced that they're "rationalizing" their "pipeline" and positioning/restructuring/streamlining for growth by, you guessed it, laying off a load of people and cancelling a bunch of games. As detailed in a Security Exchange Commission filing, Take-Two are doing away with five per cent of the approximately 11,000 people who work for them, and have cancelled several in-development projects worth tens of millions of dollars.