Grand Theft Auto publisher Take-Two announces layoffs and scraps some projects

Take-Two Interactive, the parent company of 2K Games and Grand Theft Auto maker Rockstar Games will lay off about 5% of its workforce and cut some projects as part of a cost-reduction plan, the company said on Tuesday.

The workforce reduction means about 600 employees will lose their jobs. Take-Two said it expects to see about $165 million in annual cost savings as a result. At last count, in March 2023, the company had about 11,580 full-time workers.

The canceled projects will amount to a $140 million write-off...