Take-Two Interactive, known for popular games like Grand Theft Auto and NBA 2K, is implementing cost-cutting measures that will result in the layoff of approximately five percent of its global workforce and the cancellation of several projects currently in development. The company aims to streamline its organizational structure, reducing headcount and future hiring needs, in an effort to save over $165 million each year. This initiative is expected to incur charges of up to $200 million and will be mostly completed by December 31st, 2024.

With this five percent reduction, around 579 employees out of the disclosed 11,580 will be affected by Take-Two’s downsizing efforts. The company has not provided details on which specific teams will be impacted or which projects will be scrapped. However, it is speculated that the highly anticipated game Grand Theft Auto VI, set to launch next year, will likely be unaffected by these changes, ensuring that the release of this title remains on track.

As Take-Two Interactive takes steps to cut costs through organizational restructuring, the gaming industry is witnessing the effects of these measures with the potential loss of jobs and the discontinuation of certain projects. Despite the uncertainties surrounding the workforce reduction, fans of the popular Grand Theft Auto franchise can expect the upcoming release of Grand Theft Auto VI to proceed as planned, offering some reassurance amidst the company’s restructuring efforts. The full extent of the impact of these cost-cutting measures on the gaming community and Take-Two Interactive’s future projects remains to be seen.

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