Gaming🎮 After saying layoffs would be the "hardest thing to do", GTA publisher Take-Two announces plans to lay off around 500 staff, cancel some projects

[Royal_Lizard]

Take-Two Interactoive, the company behind GTA developer Rockstar Games - which also recently acquired Borderlands developer Gearbox Software for $460 million - has announced plans to lay off just over 500 of its employees and cancel some in-development projects. This, as we've sadly come to expect, is part of a plan to cut costs at the company.

The plans were revealed via an SEC filing (thanks, GamesIndustry.biz) which outlined that Take-Two's board of directors had approved them and provided an explanation behind the rationale the company's using to justify making such a move. The latter contains a lot of the kind of language you might expect.

In that filing, Take-Two wrote that this cost slashing is designed "to identify efficiencies across its business and enhance the company’s margin profile, while still investing for growth". "As part of these efforts," it added, "the company is rationalizing its pipeline and eliminating several projects in development and streamlining its organizational structure, which will eliminate headcount and reduce future hiring needs."

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