"Take-Two Acquires Gearbox Entertainment from Embracer Group for $460 Million"

Shortly after the acquisition of Gearbox Entertainment by Take-Two Interactive, layoffs have begun at the studio, leaving former employees blindsided and sharing their experiences on social media. The exact number of staff affected is unclear, but the impact seems significant. Embracer Group sold Gearbox for $460 million, marking a substantial loss compared to the $1.3 billion it paid for the studio in 2021, highlighting the volatile nature of the video game industry.