GTA’ Video Game Publisher Take-Two to Reduce Workforce

Take-Two Interactive has informed US regulators of its decision to downsize its workforce by five percent and cancel certain video game projects as part of cost-cutting measures. Approximately 600 positions are anticipated to be affected by Take-Two, the parent company of studios like Rockstar Games, renowned for its acclaimed “Grand Theft Auto” series.
In a filing with the Securities and Exchange Commission, Take-Two stated that it is optimizing its pipeline by scrapping several projects in development and restructuring its organizational framework, resulting in staff reductions and decreased future hiring requirements.
The video game industry has witnessed layoffs across companies of varying sizes since the conclusion of the pandemic, with factors such as overstaffing and economic challenges contributing to these decisions.
Following disappointing earnings in the last quarter of the previous year, the New York-based company announced plans to cut costs. Softness in mobile advertising and underperformance of its “NBA 2K24” basketball video game were cited as reasons for lowering its financial forecast.
While “Grand Theft Auto” and “Red Dead Redemption” surpassed expectations in the quarter, Take-Two has been implementing strategies to address financial concerns. Additionally, the company’s trailer release for “Grand Theft Auto VI” in December generated significant anticipation, revealing a female lead character named Lucia and a projected 2025 release date.
The portrayal of Lucia marks a departure for the franchise, which has often faced criticism for its representation of women, minorities, and LGBTQ individuals. The trailer showcased typical elements of the series, including criminal activities and law enforcement encounters.
The announcement of the cost-cutting initiative coincides with Take-Two’s recent acquisition of Gearbox Entertainment, developer of the popular “Borderlands” franchise, signaling strategic moves within the gaming industry.

Leave a Reply

Your email address will not be published. Required fields are marked *