After making $8.5 billion from GTA 5 and saying it had "no current plans" for layoffs, GTA 6 publisher announces nearly 600 layoffs and $140 million in canceled projects

GamesOpen WorldGTA 6After making $8.5 billion from GTA 5 and saying it had “no current plans” for layoffs, GTA 6 publisher announces nearly 600 layoffs and $140 million in canceled projectsWhen you purchase through links on our site, we may earn an affiliate commission.Here’s how it works. GamesOpen WorldGTA 6After making $8.5 billion from GTA 5 and saying it had “no current plans” for layoffs, GTA 6 publisher announces nearly 600 layoffs and $140 million in canceled projectsWhen you purchase through links on our site, we may earn an affiliate commission.Here’s how it works. When you purchase through links on our site, we may earn an affiliate commission.Here’s how it works. (Image credit: Rockstar Games) GTA 6publisher Take-Two Interactive has announced it’s laying off 5% of its workforce and canceling several projects. PerBloomberg, Take-Two revealed in an end-of-business SEC filing a plan to save itself more than $165 million annually due to “reductions in its existing expense base and lowered projected expense growth for the coming years.” In the process, it’ll incur up to $200 million in charges, the majority of which - up to $140 million - is related to the cancelation of projects, while another $25 million to $35 million is related to employee severance and related costs. Take-Two is also reducing its office space as part of the plan. Back in February, Take-Two CEO Strauss Zelnick said that the company had “no current plans” to undergo layoffs. To see this turnaround is particularly galling, not least because in GTA 5, Take-Two owns one of the industry’s greatest cash-cows - Rockstar’s game has made at least $8.5 billion since its release in 2013. Of course, the elephant in the room is what will happen to GTA 6, and although it’s safe to say the highly anticipated sequel is not one of the canceled projects, it’s possible the reduction in workforce could negatively impact its development. A recent report suggestedGTA 6 could be delayed from 2025 to 2026due to a lag in development, and if nothing else, layoffs alone wouldn’t do much to help remedy the situation. In March,Take-Two acquired Borderlands developer Gearbox for $460 million, and GTA 6 is expected to be one of the most successful games of all time. Regardless, it’s now contributing to thestaggering number of layoffshitting the video game industry following the pandemic boom, including atMicrosoft, EA,Sony, Riot, and more. Meanwhile,Baldur’s Gate 3 boss has told layoff-happy publishers to stop trying to “double” their money and instead “respect the people making the games.” Sign up to the GamesRadar+ Newsletter Weekly digests, tales from the communities you love, and more CATEGORIESXbox Series XPS5PlatformsXboxPlayStation CATEGORIES More about open worldYou might be ready for Elden Ring: Nightreign, but not as ready as this streamer who completed the RPG like it was a roguelike – 207 bosses, random items, and permadeathPalworld’s Feybreak update adds a built-in Nuzlocke mode to the open-world survival game - and a taste of next year’s Terraria crossoverLatestI didn’t know how badly I wanted to grill and gobble up monsters until this upcoming survival roguelike made it look so tastySee more latest► More about open worldYou might be ready for Elden Ring: Nightreign, but not as ready as this streamer who completed the RPG like it was a roguelike – 207 bosses, random items, and permadeathPalworld’s Feybreak 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