As reported by Reuters, Take-Two Interactive has announced that the company is cutting about 600 employees or 5% of its workforce. The company is also selling off some of its office space, and is canceling the release of multiple projects that were in development. Take-Two believes this move will save the company $165 million annually in an effort to counter slowing revenue growth in PC and console gaming. Unfortunately, the company has not revealed what games have been axed.
This move may come as a surprise to some. Take-Two Interactive is in the process of closing a deal to buy Gearbox Entertainment for $460 million. The publisher is also approaching the release of the hotly-awaited Grand Theft Auto 6, which is extremely likely to see massive sales and profits for the company, even before any potential microtransactions come into the picture. However, the announcement of Gearbox Entertainment's acquisition was immediately followed by layoffs for the developer, perhaps hinting at the direction the publisher would be moving in.
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This move may come as a surprise to some. Take-Two Interactive is in the process of closing a deal to buy Gearbox Entertainment for $460 million. The publisher is also approaching the release of the hotly-awaited Grand Theft Auto 6, which is extremely likely to see massive sales and profits for the company, even before any potential microtransactions come into the picture. However, the announcement of Gearbox Entertainment's acquisition was immediately followed by layoffs for the developer, perhaps hinting at the direction the publisher would be moving in.
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